'The overall labour market should remain tight in the near term,' Labour secretary says
Hong Kong's unemployment rate remained at three per cent in the June to August period, according to the latest data from the Census and Statistics Department (C&SD).
This marks the sixth consecutive three-month period where the seasonally adjusted unemployment rate was unchanged, starting with the January to March period.
The latest period, however, showed more diverse movements in unemployment than the preceding three-month period, the C&SD said.
Sectors that saw an increase in unemployment include the accommodation services (3.5%) and the food and beverage service activities (5.1%).
"The unemployment rates of some other sectors also increased, notably the decoration, repair and maintenance for buildings sector and the information and communications sector," the Labour Department said.
Source: Census and Statistics Department
On the other hand, sectors that saw a drop in unemployment include the insurance sector, the import/export trade and wholesale sector, and the transportation sector.
Other labour statistics data
Meanwhile, the underemployment rate also remained unchanged at 1.2% in the June to August period, according to the C&SD.
Total employment was at 3,708,500, while the labour force increased to 3,830,800.
According to the Labour Department, the monthly average vacancies from the private sector were at 68,209 during the three-month period, a 4.9% decrease from the preceding three-month period and a 35.2% decline year-on-year.
"The overall labour market should remain tight in the near term alongside the continued economic growth, though the employment situation in some sectors may be under pressure as their businesses continue to face challenges," said Labour and Welfare Secretary Chris Sun in a statement.
Hiring sentiments
The findings come as 39% of employers in Hong Kong expect an increase in hiring for the fourth quarter, according to the latest ManpowerGroup survey.
Another 31% said they are anticipating a decrease, while 29% are reporting no changes at all for their hiring plans in the fourth quarter.
By industry sectors, communication services saw the highest hiring intentions for the fourth quarter with 40%, while the healthcare and life sciences saw an 11% decline in hiring sentiments.
Source: ManpowerGroup survey
