Hong Kong Unemployment Rate

Hong Kong’s seasonally adjusted unemployment rate edged up to 3% in the three months ending March 2024, after steadying at 2.9% in the previous five periods. The number of unemployed persons rose by 9.4 thousand from a month earlier to 111.7 thousand, while employment declined by 6.3 thousand to 3.688 million. Almost all the major economic sectors recorded a rise in jobless rate, notably in the foundation and superstructure sector, retail, accommodation and food services sector, and professional and business services sector. Meanwhile, the youth unemployment rate, measuring job-seekers between 20 to 29 years old, increased to 6.2% from 5.6% previously. The labor force participation rate was unchanged at 57%.