Employment in consumption-related sectors 'might be under some pressure,' secretary says
Hong Kong's unemployment rate stayed at three per cent in the May to July period, according to the Census and Statistics Department (C&SD).
The latest labour force statistics revealed that the number of unemployed people in Hong Kong increased by around 3,100 to reach 117,800 people in May to July.
According to the department, there was "diverse movements" of unemployment rates in Hong Kong's various sectors unlike the preceding three-month period.
Unemployment in the retail sector reached 4.3%, while the food and beverage service activities sector hit five per cent.
"The employment situation of the consumption-related sectors might be under some pressure, due to the challenges from the changing consumption patterns of residents and visitors," said Labour and Welfare Secretary Chris Sun in a statement.
Source: Hong Kong's Census and Statistics Department
On the other hand, many sectors reported decreases in unemployment rates, such as in import/export trade and wholesale sector, the accommodation services sector, the transportation sector, the insurance sector, and the real estate sector.
Underemployment also remained at 1.2% in the May to July period, as the number of unemployed persons increased to 47,500, up by around 3,000 people.
Meanwhile, total employment went up by around 5,300 to reach 3,708,600 in May to July, while the labour force also increased to 3,826,400, according to the C&SD.
A monthly average of 71,709 vacancies in the private sector were also recorded during May to July, a 1.1% increase from the previous three-month period.
According to Sun, the government is expecting the overall labour market situation to "remain tight in the near term as continued economic growth renders support to labour demand."
