The Census and Statistics Department announced today (17th) the provisional statistics on the labor force for May to July. The seasonally adjusted unemployment rate fell from 4.7% in April to June to 4.3% in May to July, a decrease of 0.4%. percentage point; the underemployment rate fell from 3.0% to 2.2% during the same period, a decrease of 0.8 percentage points.
Total employment rose from 3,571,600 to 3,593,100 over the same period, representing an increase of about 21,500.
▼On August 4th, the Labour Department held a large-scale job fair in Wanchai▼
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Census and Statistics Department: Unemployment rate fell in almost all industries
According to the Census and Statistics Department, the unemployment rate (not seasonally adjusted) fell in almost all major economic sectors from May to July, compared with April to June, among which building decoration, repair and maintenance, retail, accommodation And catering services, transportation and arts, entertainment and recreational activities have relatively significant declines.
As for the underemployment rate, decreases were mainly seen in the building decoration, repair and maintenance, retail, accommodation and catering services, and arts, entertainment and recreational activities industries.
The total labor force increased by 11,000 and the number of unemployed decreased by 10,000
The total labor force rose by about 11,100 to 3,761,300 in May-July from 3,750,200 in April-June, the prescription said.
The number of unemployed persons (not seasonally adjusted) fell from 178,600 to 168,200, a decrease of about 10 400 over the same period; the number of underemployed persons also fell from 111,600 to 84,300, a decrease of about 27,300 over the same period.
The Secretary for Labour and Welfare, Sun Yuk-han, said that as local economic activities continued to recover, the labour market further improved during the period, and the 2022 Job Support Plan also helped.
▼August 15, the last day of the Food Expo, Ding Cailiangwang ▼
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Analysed by industry, the unemployment rate combined with consumption and tourism-related industries (i.e. retail, accommodation and food services) fell by 0.9 percentage points to 6.5% in May-July from the previous three-month period.
Among them, the unemployment rate of the food service activities industry fell by 1.6 percentage points to 7.0%, and that of the retail industry fell by 0.3 percentage points to 6.3%.
Unemployment also fell in most other industries, notably building decoration, repair and maintenance, transportation and arts, entertainment and recreational activities.
Looking forward to the future, Sun Yuhan pointed out that as long as the local epidemic remains under control, and with the support of the second phase of the consumer coupon program, local economic activities are expected to resume further in the next few months.
He pointed out that the labor market should continue to improve as a result, but the extent of the improvement will depend on the speed of economic recovery amid tightening financial conditions.
▼The Hong Kong Food Expo 2022 will be crowded on the weekend of August 13▼
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