Hong Kong’s jobless rate falls to lowest in a year

Hong Kong’s unemployment rate has dropped to its lowest level in a year, falling to six percent in the three months to the end of May, down from 6.4 percent.

Government figures show the SAR’s jobless rate has fallen gradually since reaching a 16-year peak of 7.2 percent for the December to February period.

The administration said the employment situation between March and the end of May improved in almost all major sectors, with larger decreases in jobless rates recorded in construction, retail, accommodation and food services.

The underemployment rate also came down, from 3.3 percent to 2.8 percent.

Labour Secretary Law Chi-kwong said the local economic recovery and easing pandemic situation had helped the labour market.

But he warned that the global Covid situation remains uncertain and some sectors may take longer to recover.