Hong Kong's jobless rate down to 5 pct in May-July

Hong Kong's jobless rate continued to drop over the past three months amid a sustained economic recovery, official data showed on August 18.

The unemployment rate in the global financial hub stood at 5 percent during the May-July period, down from 5.5 percent seen in between April and June, the Census and Statistics Department of the Hong Kong Special Administrative Region government said in a report.

The underemployment rate also went down from 2.5 percent to 2.4 percent during the same period.

Most sectors saw improved employment situations. In particular, the jobless rate of the consumption- and tourism-related sectors combined, including retail, accommodation and food services, fell by 0.9 percentage point to 7.6 percent.

Looking ahead, Secretary for Labor and Welfare Law Chi-kwong said the labor market should continue to improve along with the economic recovery but still cautioned against threats from the spreading of more infectious COVID-19 variants in many places around the world.

Law urged the public to strive together towards more widespread vaccination in a bid to strengthen the foundation for continued recovery in the economy and further improvement in the labor market.

Source: Xinhua