The job market in Hong Kong continues to improve. The unemployment rate from November last year to January this year was 3.4%, a drop of 0.1 percentage point from the previous time. There were 118,400 unemployed people, a decrease of about 7,600 people. The underemployment rate in the same period was 1.4%. down 0.1 percentage points.
Unemployment rates in almost all major economic sectors have fallen, among which the construction industry and the retail industry have relatively obvious declines; in terms of the underemployment rate, the decline is mainly seen in the building decoration, repair and maintenance industry, retail industry and transportation industry.
Sun Yuhan, Secretary of the Labor and Welfare Bureau, said that unemployment and underemployment continued to improve, and the unemployment rate of industries related to consumption and tourism, namely retail, accommodation and catering services, fell by 0.2 percentage points to 4.5%. Among them, the unemployment rate of the retail industry fell by 0.4 percentage points to 4.2%, and the unemployment rate of the food service activities industry fell slightly by 0.1 percentage points to 4.9%.
Looking ahead, he pointed out that as economic activities gradually return to normal from the epidemic, Hong Kong and the Mainland resume full customs clearance, and inbound tourism rebounds, the labor market situation should further improve in the next few months.