Hong Kong Jobless Rate Rises To 3.9%

(RTTNews) - Hong Kong's unemployment rate increased in the July to September period, labor force statistics from the Census and Statistics Department showed on Monday.

The seasonally adjusted unemployment rate came in at 3.9 percent in July-September, up from 3.7 in the June-August period.

The data showed that the underemployment rate remained stable at 1.6 percent.

Without adjustment, the unemployment rate climbed to 4.1 percent from 3.9 percent.

The number of unemployed persons was 155,600, compared to 151,000 in the June-August period.

The unemployment rate increased in many major economic sectors, with more distinct increases observed in the social work activities sector and construction sector. 

Looking ahead, the continued expansion of the Hong Kong economy is expected to support job growth, Chris Sun, the secretary for labor and welfare, said.

However, the employment situation in some sectors would continue to face challenges during economic restructuring, and the increasing external uncertainties could also weigh on corporate hiring sentiment.