Hong Kong Jobless Rate Falls In July

(RTTNews) - Hong Kong's unemployment and underemployment decreased in the May to July period, the labor force statistics from the Census and Statistics Department showed on Wednesday.

The unemployment rate fell to a seasonally adjusted 4.3 percent in May to July period from 4.7 percent in April to June period.

The underemployment rate also decreased in the three months ended July, to 2.2 percent from 3.0 percent during the April-June period.

The number of unemployed people fell by 10,400 to 168,200 during the May-July period. Over the same period, the number of underemployed persons declined by 27,300 to 84,300.

At the same time, total employment increased by around 21,500 people to 3.593 million during the three months ended July.

"The labor market improved further in May - July 2022 as domestic economic activities continued to revive," the Secretary for Labor and Welfare, Chris Sun, said.

Looking ahead, Sun said, "Provided that the local epidemic situation remains under control, with the support from Phase II of the Consumption Voucher Scheme, domestic economic activities are expected to revive further in the coming months.

The labour market should continue to improve, although the extent of improvement will be dependent on the pace of economic revival amid the tightened financial conditions, the official added.