The number of unemployed increases by 5800 Luo Zhiguang: The number of unemployed rises because graduates enter the labor market

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Written by: Yuan Shu

2020-09-20 11:19

Last update date: 2020-09-20 11:19

The government announced last week that the unemployment rate from June to August remained at 6.1%, but the unemployed population increased by 5,800 to 248,300.

The Secretary for Labour and Welfare, Luo Zhiguang, stated in his blog today (20th) that although the third wave of the epidemic in Hong Kong was severe in July and August, the number of employed people is still increasing compared to the period when the epidemic was relatively mild in April and May. Reflects the effect of "guaranteeing employment".

However, he said that since graduates entered the labor market from May to August, it has also become the main reason for the increase in unemployment.

Luo Zhiguang pointed out that since the vast majority of tertiary and secondary school graduates enter the labor market between May and July, the above phenomenon has increased the number of unemployed persons in July and August, which occurs almost every year.

Similarly, since a small number of graduates will enter the labor market in August, August will also be relative to May: an increase in the labor force, an increase in the employed population, and an increase in the number of unemployed persons.

Luo Zhiguang also pointed out that in the first half of this year, the labor market was hit by the epidemic, and the labor force was further reduced to 3.54 million. The labor force from June to August this year decreased by 2.1% year-on-year, which was more than the decrease in the past year. A three-year reduction was previously expected.

He pointed out that it is currently difficult to estimate when the impact of the epidemic will subside. Will some people who leave the labor market return to the labor market when the economy improves? Once they do not return to the labor market, the manpower shortage in Hong Kong will be earlier The situation previously estimated is even more serious, and it will even "hold back" the economic recovery.

▼Reopening of premises and relaxation measures starting on September 18▼

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