The unemployment rate in Hong Kong fell to 4.1% between June and August, with 161,900 people jobless, according to the latest government statistics.
The number of unemployed people in Hong Kong fell by around 6,300 in June to August, compared to 168,200 between May and July, the figures by the Census and Statistics Department showed. This is a 0.2% fall in Hong Kong’s jobless rate, which was at 4.3% between May and July.
Total employment in the city increased over the same timeframe from 3,593,100 to 3,609,300, as the labour force increased from 3,761,300 to 3,771,200. In addition, the number of underemployed people declined from 84,300 to 76,400.
Secretary for Labour and Welfare, Chris Sun said Hong Kong’s labour market continued to show improvement as domestic activities resumed during the pandemic.
This improvement was, in part, bolstered by the second stage of the government’s consumption voucher scheme, which supported local consumption demand, the Labour and Welfare Secretary added.
Sun forecasts Hong Kong’s labour market would witness additional improvements in the short term, but it may be hampered by “recent tightened financial conditions.” It could also be affected by the development of the pandemic, which may “have bearings” on economic activities.
“It is, therefore, crucial for the community to continue to work in unison with the government to bring the epidemic under control,” Sun said during a press statement.
On Monday, Hong Kong registered 6,260 new Covid cases, the lowest daily number since the middle of August. Last week, Financial Secretary Paul Chan said the city may see a fiscal deficit of over HK$100 billion as the pandemic continued to hammer the economy. This estimate would indicate the second-highest shortfall, following 2020’s HK$232.5 billion deficit.
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