Skip to main content

Advertisement

Advertisement

Business

Hong Kong's July to September unemployment at near 16-year high, pressure remains

Hong Kong's July to September unemployment at near 16-year high, pressure remains

A passenger covers his nose and mouth with a towel to help protect himself against the coronavirus in a subway car in Hong Kong, Oct 16, 2020. (Photo: AP/Kin Cheung)

HONG KONG: Hong Kong's seasonally adjusted unemployment rose slightly to 6.4 per cent in the period from July to September, as government relief measures provided some support and coronavirus curbs helped contain infections in an economy already in recession.

The figure was the highest in close to 16 years and compared with 6.1 per cent for the period from June to August.

READ: Cathay Pacific to cut 6,000 jobs, axe Cathay Dragon brand amid COVID-19 pandemic: Report

The underemployment rate remained unchanged, at 3.8 per cent in the two three-month rolling periods. The number of unemployed rose by about 11,500 people to 259,800 in the three months.

Labour Secretary Law Chi-kwong said the labour market deteriorated for the third quarter in Hong Kong's third wave of the pandemic, but the pressure showed signs of stabilising as the virus situation abated in September.

READ: China's super rich got US$1.5 trillion richer during COVID-19 pandemic: Report

"As the overall economic situation remains weak and the global pandemic is still evolving, the labour market will remain under pressure in the near term," he added.

The unemployment rate for the consumption- and tourism-related sectors combined surged by 0.8 percentage point to 11.7 per cent from July to September, its highest since the SARS onslaught of 2003.

Source: Reuters/dv

Advertisement

Also worth reading

Advertisement