Seasonally adjusted unemployment rate decreased from 4.7% in April – June 2022 to 4.3% in May – July 2022

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17th August 2022 – (Hong Kong)  According to the latest labour force statistics (i.e. provisional figures for May – July 2022) released today by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate decreased from 4.7% in April – June 2022 to 4.3% in May – July 2022. The underemployment rate also decreased from 3.0% in April – June 2022 to 2.2% in May – July 2022.
      
Comparing May – July 2022 with April – June 2022, the unemployment rate (not seasonally adjusted) decreased across almost all the major economic sectors, with more distinct decreases observed in the decoration, repair and maintenance for buildings sector; retail, accommodation and food services sector; transportation sector; and arts, entertainment and recreation sector. As to the underemployment rate, decreases were mainly seen in the decoration, repair and maintenance for buildings sector; retail, accommodation and food services sector; and arts, entertainment and recreation sector.
      
Total employment increased by around 21,500 from 3,571,600 in April – June 2022 to 3,593,100 in May – July 2022. Over the same period, the labour force also increased by around 11,100 from 3,750,200 to 3,761,300.
      
The number of unemployed persons (not seasonally adjusted) decreased by around 10,400 from 178,600 in April – June 2022 to 168,200 in May – July 2022. Over the same period, the number of underemployed persons also decreased by around 27,300 from 111,600 to 84,300.
                 
  Commenting on the latest unemployment figures, the Secretary for Labour and Welfare, Mr Chris Sun, said, “The labour market improved further in May – July 2022 as domestic economic activities continued to revive. The 2022 Employment Support Scheme has also helped. The seasonally adjusted unemployment rate fell by 0.4 percentage point from April – June 2022 to 4.3% in May – July 2022. The underemployment rate declined by 0.8 percentage point to 2.2%. Total employment showed a faster increase of 21,500 to 3,593,100. The number of unemployed persons fell further by 10,400 to 168,200.”
      
Analysed by sector, the unemployment rate of the consumption- and tourism-related sectors (viz. retail, accommodation and food services sectors) combined fell by 0.9 percentage point from the preceding three-month period to 6.5% in May – July 2022. Among these sectors, the unemployment rate for food and beverage service activities fell by 1.6 percentage points to 7.0%, and that of the retail sector declined by 0.3 percentage point to 6.3%. The unemployment rates of most other sectors also declined, more notably the decoration, repair and maintenance for buildings sector; the transportation sector; and the arts, entertainment and recreation sector.
      
Looking ahead, Mr 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. It remains vital for the community to work in unison with the Government to keep the epidemic under control.”
      
 On large-scale job fairs, the Labour Department (LD) will organise the Job Fair for Middle-aged and Elderly Employment at the MacPherson Stadium on 22nd and 23rd September, 2022. Over 50 employers will participate, offering lots of vacancies from various industries. In May – July 2022, LD recorded a monthly average of 100 717 vacancies from the private sector, representing a year-on-year increase of 14.2%, and an increase of 11.1% over the average figure in April – June 2022. Job-seekers may make use of the LD’s online platforms such as the Interactive Employment Service website for obtaining such vacancy information.

HKSAR Govt Press Release

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