Unemployment Rate Jumps To A Ten-year High

The unemployment rate in Hong Kong for the February to April period has spiked to a ten-year high of 5.2 percent as the coronavirus pandemic continued to ravage the city’s economy.

The rate during the three-month period prior to that was 4.2 percent as the city faced a combination of factors, including the China-US trade spat, social unrest and the coronavirus outbreak.

In a statement, the government said the food and beverage sector was hardest hit, with the unemployment rate surging to 12 percent.

This was followed by the construction sector, at 10 percent, and the consumption-and-tourism related sector, which rose to a 15-year-high of 9 percent.

Looking ahead, the government said it expects the labour market to remain under immense pressure.