Hong Kong Unemployment Rate Holds Steady at 3.7% as Jobless Count Rises to 145,700
SingTao · 1 SOURCESabout 3 hours ago2 MIN
Summary
The Census and Statistics Department released its latest labor force statistics on August 20, showing Hong Kong's seasonally adjusted unemployment rate for May-July 2026 holding steady at 3.7%, unchanged from the April-June 2026 period . However, the absolute number of unemployed persons rose by approximately 6,000 to 145,700, while the underemployment rate increased by 0.1 percentage points to 1.7% .
Key Points
- Total employed population grew by approximately 1,500 to 3,647,600, with total labor force expanding by about 7,500 to 3,793,300
- Underemployment increased by roughly 3,800 persons to 66,200, with the education sector accounting for the main rise
- Industry-wise unemployment showed mixed trends: foundation and superstructure construction improved while retail and transport sectors experienced increases
- Secretary for Labour and Welfare Kenneth Leung Yuk-yin noted that local economic expansion should support the labor market
- He cautioned that graduating students and school leavers entering the workforce could exert upward pressure on unemployment
Why It Matters
The divergence between a stable unemployment rate and rising absolute unemployment numbers highlights the delicate balance in Hong Kong's labor market as more workers actively seek jobs . With fresh graduates joining the workforce during a period of uncertain global economic conditions, employment prospects for young job seekers remain a critical concern for policymakers and families alike .
The divergence between a stable unemployment rate and rising absolute unemployment numbers highlights the delicate balance in Hong Kong's labor market as more workers actively seek jobs . With fresh graduates joining the workforce during a period of uncertain global economic conditions, employment prospects for young job seekers remain a critical concern for policymakers and families alike .