The Census and Statistics Department announced this afternoon (19th) that the latest unemployment rate for October to December 2022 is 3.5%, which is 0.2 percentage points lower than the 3.7% unemployment rate for September to November 2022 announced last month, and the number of unemployed people has decreased by 12,700 to 126,000, while the underemployment rate fell 0.1 percentage point to 1.5% over the same period.
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The Secretary for Labor and Welfare, Sun Yuhan, said that the labor market has further improved. Analyzed by industry, the unemployment rate combined with consumption and tourism-related industries (i.e. retail, accommodation and catering services) will increase from October to December 2022. It fell 0.3 percentage point to 4.7% for a three-month period.
Among them, the unemployment rate of the retail industry fell by 0.4 percentage points to 4.6%, and that of the catering service activities industry dropped slightly by 0.1 percentage point to 5.0%.
Unemployment also fell in most other industries, notably construction, transportation and education.
Sun Yuhan said that the labor market should continue to improve in the short term. As the government cancels most of the social distance measures and Hong Kong and the mainland gradually clear customs, local economic activities are expected to recover more significantly, providing further support for the labor market, but financial conditions Tightening may offset some of the positive effects.
Sun Yuhan, Secretary of the Labor and Welfare Bureau, said on December 16 that the short-term prospects of the labor market will depend on the pace of recovery of local economic activities. Further relaxation of epidemic prevention-related measures and the consumer voucher program will also help.
(File photo/Photo by Ou Jiale)
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