Hong Kong unemployment rate drops to 3.9% in Q4 2021

Official data showed on Jan. 18 that Hong Kong's seasonally adjusted unemployment rate in 2021 decreased from 4.1 percent in the September-November period to 3.9 percent in the fourth quarter.

The unemployment rate decreased across almost all the major economic sectors, with more distinct decreases observed in the construction sector, the retail, accommodation and food services sector, and the education sector.

Commenting on the latest unemployment figures, Secretary for Labour and Welfare of the HKSAR government Law Chi-kwong said the labor market continued to improve in the fourth quarter amid sustained economic recovery during the period.

Looking ahead, Law said the latest wave of COVID-19 and the tightened social distancing measures will subject the employment situation of consumption-related sectors to some pressure in the near term.

Law added that: "Nevertheless, the latest round of measures under the Anti-epidemic Fund should provide some relief. The labor market developments in the coming months would hinge on the local epidemic situation and the pace of economic recovery."

Source: Xinhua