Financial News
Written by: Kwong Yueting
2020-08-19 16:46
Last update date: 2020-08-19 16:47The Census and Statistics Department announced that the seasonally adjusted unemployment rate from May to July fell from 6.2% to 6.1%, and the underemployment rate fell from 3.7% to 3.5%.
Among them, the unemployment rate in consumer and tourism-related industries (ie, retail, accommodation and catering services) rose slightly to 10.8%, the highest level after being hit hard by SARS; the unemployment rate in the catering service activities industry was 14.6%, still close The high after SARS; the unemployment rate in the construction industry rose slightly to 11.3%, the highest level after the global financial crisis. At the same time, unemployment in some industries has improved, especially in the information and communications industry, professional and business services (excluding cleaning and similar activities), and education.
The total number of employed persons rose from 3.6204 million from April to June to 3.637 million from May to July, an increase of approximately 16,600. During the period, the number of unemployed rose from 240,700 to 242,500, an increase of about 1,800.
The Secretary for Labour and Welfare Law Chi-kwong said that the labour market will still face tremendous pressure in the short term. The recent surge in global and local infections has made Hong Kong's economic outlook for the rest of this year even more uncertain. In order to maintain economic vitality, the government has introduced the largest relief measures in history, including a series of measures to protect employment and create jobs, to help protect employees' employment. The government will continue to monitor the situation closely.
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