The Statistics Department of the Government of the Hong Kong Special Administrative Region (HKSAR) released the latest labor statistics today (March 16). The seasonally adjusted unemployment rate decreased from 3.4% from November 2022 to January 2023 to 3.3% from December 2022 to February 2023, showing a downward trend for 10 consecutive months; During the same period, the underemployment rate also decreased from 1.4% to 1.3%. After customs clearance, the number of visitors to Hong Kong Ocean Park increased. Compared with November 2022 to January 2023, the unemployment rate (without seasonal adjustment) in many major economic sectors decreased between December 2022 and February 2023, with relatively significant declines in retail, transportation, and the arts, entertainment, and recreational activities industries. In terms of underemployment, the decline was mainly seen in the building decoration, repair and maintenance industries, and the insurance industry. In terms of unemployment (without seasonal adjustment), the number of unemployed people decreased from 118400 from November 2022 to January 2023 to 115700 from December 2022 to February 2023, a decrease of about 2700; During the same period, the number of underemployed people also decreased from 52100 to 47900, a decrease of about 4200. The Secretary for Labour and Welfare of the SAR Government, Sun Yuhan, said that the recent situation of unemployment and underemployment continued to improve. Next, as economic activity continues to resume and the inbound tourism industry rebounds, the labor market situation is expected to further improve in the short term. (Liao Xinshe)
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