Hong Kong jobless rate worsens to 7 per cent in January as coronavirus fourth wave takes toll
- Labour chief Law Chi-kwong blames worsening labour market on fourth wave of infections which started in November
- Market will remain under pressure in the near term as it will take time for economic activities to return to normal, he warns
The rolling quarterly unemployment rate between November and January was 0.4 percentage points higher than the 6.6 per cent recorded in the three months ending December 31, according to the Census and Statistics Department on Thursday.
Some 7,500 more people were out of work as of January 31, bringing the total to 253,300, the highest since October 2004.
“Although the fourth wave of the local epidemic has shown signs of easing lately, the labour market will remain under pressure in the near term as it will take time for economic activities to return to normal,” he said.
The underemployment rate jumped 0.9 percentage points to a record high of 6.6 per cent.
The unemployment and underemployment rate for food and beverage service activities increased visibly to 14.7 per cent and 10.0 per cent respectively.
Law said labour market conditions in most other sectors also deteriorated, particularly in education and arts, entertainment and recreation.
