HK Unemployment Drops To 3.3pc In Dec-Feb

Hong Kong on Thursday reported an unemployment rate of 3.3 percent for the December-to-February period, a 0.1 percent decrease from the period between November and January.

According to government data, the number of jobless people stood at 115,700 for the reported period, a 27,000 decrease.

Underemployment also fell by 0.1 percentage point, to 1.3 percent, with the number of underemployed people shrinking by 4,200 to 47,900.

The unemployment rate for the retail, accommodation, and food services sectors decreased by 0.2 percentage points to 4.3 percent.

The retail sector alone saw a 0.3 percent decline in unemployment, coming in at 3.9 percent.

The government said that the employment situation improved in most industries, particularly in the transportation, arts, entertainment, and recreation sectors.

Labour Minister Chris Sun said both the unemployment and underemployment situations continued to improve.

"The labour market conditions should improve further in the near term alongside the continued return of economic activities to normalcy and the rebound in inbound tourism," he said.