Hong Kong Jobless Rate Rises In December

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Hong Kong’s jobless rate rose during the October to December period, data from the Census and Statistics Department showed on Tuesday.

The unemployment rate increased to 6.6 percent during the October to December period from 6.3 percent during the September to November period. This was the highest in sixteen years.

The underemployment rate remained unchanged at 3.4 percent during the October to December period.

The number of unemployed persons increased by 1,500 to 245,800 during October-December from 244,300 in the preceding period.

Employment fell by 2,400 to 3.647 million in the three months ended December from 3.650 million in the previous period.

The labor market declined due to the fourth wave of local pandemic which started in the latter part of November, the Secretary for Labor and Welfare, Law Chi-kwong said.

“The Government has rolled out targeted measures lately to provide further support to the hard-hit sectors, and will continue to monitor the situation closely,” Law said.

The material has been provided by InstaForex Company – www.instaforex.com

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