Hong Kong Jobless Rate Stable At 2.9%

(RTTNews) - Hong Kong's unemployment rate held steady in the September-November period, labour force statistics from the Census and Statistics Department showed on Tuesday.

The seasonally adjusted unemployment rate came in at 2.9 percent in the September-November period, the same as in the August-October period.

The data showed that the underemployment rate remained unchanged at 1.0 percent.

On an unadjusted basis, the unemployment rate dropped to 2.9 percent from 3.0 percent.

The number of unemployed persons was 112,400, compared to 115,800 from August to October of 2023.

"The labour market should remain tight in the near term," Mr. Chris Sun, the secretary for labour and welfare, said.

"Though the still unfavourable external environment might have some negative effects, the expected further recovery of inbound tourism and private consumption would continue to underpin labour demand."