Unemployment rate stays at 3%

June 20, 2024

The seasonally adjusted unemployment rate stood at 3% for the period between March and May, unchanged from the February-to-April figure, the Census & Statistics Department announced today.

 

The underemployment rate increased 0.1 percentage points to 1.2%.

 

Total employment increased by around 2,800 to 3,696,900, while the labour force grew by around 5,300, to 3,813,100.

 

The number of unemployed people increased slightly by around 2,500 to 116,200. The number of underemployed people also increased by around 4,200 to 44,700.

 

Noting that the unemployment rates of various sectors remained low in general, Secretary for Labour & Welfare Chris Sun said that the labour market will likely remain tight in the near term as the economy continues to grow.

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