The unemployment rate rose to 5.4%, Chen Maobo pointed out that the data lag did not reflect the improvement of market conditions, so there is no need to be too pessimistic

The latest unemployment rate rose to 5.4%, and the total number of unemployed increased to more than 200,000. Financial Secretary Chen Maobo said in his blog today (22nd) that the data lag did not immediately reflect the improvement of market conditions. It is easy to miss out on improving momentum or emerging opportunities in the economy.

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Chen Maobo said in the article that with the easing of the epidemic, the government further relaxed social distancing measures as planned last week, the market atmosphere is lively, the flow of people in restaurants and shopping malls has further increased, and business has gradually improved, restaurants and shops are now more urgent. Cope with picking up business and foot traffic.

He believes that although the unemployment rate has not improved, the job market is gradually improving from the atmosphere felt by the cafeteria.

Food price rises are expected to slow

In terms of inflation, he pointed out that the basic Composite CPI in the first quarter of this year rose by 1.6% year-on-year, which was still moderate on the whole, mainly because rental expenses, which account for a relatively large part of the index, continued to fall, but the prices of "clothing, food and travel" increased by the same amount. higher than the overall figure.

Taking the food prices in March as an example, the increase was 4.6%, of which the price of basic food increased by 7.6%. He estimated that it was related to the epidemic that disrupted transportation and logistics, affecting the supply of fresh vegetables and other food. However, according to the current trend, food The upward momentum of prices is expected to slow down.

Chen Maobo said that as long as the epidemic is under control and daily life gradually returns to normal, Hong Kong's economy is expected to gradually recover for the rest of this year.

(File photo / Photo by Liang Pengwei)

Hong Kong's economy is expected to recover gradually this year

Chen Maobo also pointed out that as long as the epidemic is under control and daily life gradually returns to normal, Hong Kong's economy is expected to gradually recover in the rest of this year, but at the same time, it cannot be taken lightly, and once again calls on the public to actively get vaccinated.

He believes that the importance of strictly controlling the epidemic cannot be ignored because of the economy, nor should the planning for future development be ignored because of the epidemic. Yu can also show them how Hong Kong, after more than two years of challenges, can continue to remain an international financial and business centre full of dynamism and opportunities.

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10,000 yuan of temporary unemployment assistance applications are unsuccessful, 100,000 people have 2 ways to appeal, the unemployment rate in Hong Kong has soared to 5.4%, and the number of unemployed has reached a ten-month high of 200,000, and the annual economic growth forecast has been lowered to 1 to 2% Chen Maobo pointed out 2 Unemployment rate will worsen by April $10,000 Unemployment Support | MPs demand an appeal channel to extend the time limit for filing supplementary materials Workers who have been working without work for two days have their applications rejected: I was abandoned