Jobless Rate Likely To Rise Further: Matthew Cheung

Chief Secretary Matthew Cheung has warned that the new unemployment rate due to be released on Monday will likely rise further from the nine-year high of 3.7 percent during the three months to February.

In his blog, Cheung said the labour market will continue to face 'severe headwinds' in the short term, and noted that figures from February will not have fully reflected the full impact of the Covid-19 pandemic on the economy.

It will be very difficult, he said, for the situation to take a turn for the better in the near term.

Cheung warned new graduates that they will likely find it more difficult to find jobs in the coming months, compared with previous years.

But the Chief Secretary said the government is doing all it can to preserve jobs, saying that the latest round of epidemic-relief measures include an HK$81 billion dollars employment support scheme which is expected to help support 1.5 million workers in Hong Kong.

He added that the government is allocating more resources in creating jobs – including an earlier pledge to create around 30,000 temporary positions in the public and private sectors.

Cheung said the openings will be suitable for a broad range of talent, from fresh graduates to experienced professionals in sectors from civil engineering and law, to arts and culture.

There will also be positions like apprentices, researchers and administrative assistants for fresh graduates, he said.