According to the latest labour force statistics (i.e. provisional figures for April – June 2024) released today (July 18) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate stood at 3.0% in April – June 2024, same as that in March – May 2024. The underemployment rate also remained unchanged at 1.2% in the two periods.
Comparing April – June 2024 with March – May 2024, movements in the unemployment rate (not seasonally adjusted) and underemployment rate in different industry sectors varied, but the magnitudes were generally not large.
Total employment increased by around 6 400 from 3 696 900 in March – May 2024 to 3 703 300 in April – June 2024. Over the same period, the labour force also increased by around 4 900 from 3 813 100 to 3 818 000.
The number of unemployed persons (not seasonally adjusted) decreased by around 1 500 from 116 200 in March – May 2024 to 114 700 in April – June 2024. The number of underemployed persons in April – June 2024 was 44 500, about the same as that in March – May 2024 (44 700).
Commentary
Commenting on the latest unemployment figures, the Secretary for Labour and Welfare, Mr Chris Sun, said, “The seasonally adjusted unemployment rate stayed low at 3.0% in April – June 2024, same as March – May 2024. The underemployment rate also remained unchanged at 1.2%. Total employment showed a slightly accelerated increase of 6 400 to 3 703 300, and the labour force increased further by 4 900 to 3 818 000. The number of unemployed persons decreased by 1 500 to 114 700.”
The unemployment rates of the various sectors stayed low in general in April – June 2024, though showing diverse movements compared with the preceding three-month period.
Looking ahead, Mr Sun said, “The labour market should remain tight in the near term, alongside the ongoing economic growth.”
In April – June 2024, the Labour Department (LD) recorded a monthly average of 72 512 vacancies from the private sector, representing a year-on-year decrease of 28.5% and a decrease of 6.7% over the average figure in March – May 2024.
On large-scale job fairs, the LD will organise the Re-employment Allowance Pilot Scheme Job Fair at the MacPherson Stadium in Mong Kok on July 30 and 31, 2024. Over 50 employers will participate, offering a large number of vacancies. Job-seekers may also make use of the LD’s online platforms, such as the Interactive Employment Service website, for obtaining more information on available vacancies.
Further information
The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
In the survey, the definitions used in measuring unemployment and underemployment follow closely those recommended by the International Labour Organization. The employed population covers all employers, self-employed persons, employees (including full-time, part-time, casual workers, etc.) and unpaid family workers. Unemployed persons by industry (or occupation) are classified according to their previous industry (or occupation).
The survey for April – June 2024 covered a sample of some 26 000 households or 68 000 persons, selected in accordance with a scientifically designed sampling scheme to represent the population of Hong Kong. Labour force statistics compiled from this sample represented the situation in the moving three-month period of April to June 2024.
Source: Census and Statistics Department, Hong Kong
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