Hong Kong's unemployment rate drops to 3.1 pct in Q1

HONG KONG, April 24 (Xinhua) -- Hong Kong's seasonally adjusted unemployment rate decreased to 3.1 percent in the January-March period from 3.3 percent in the period from December 2022 to February 2023, official data showed Monday.

The underemployment rate also decreased from 1.3 percent to 1.2 percent, according to the Census and Statistics Department of the Hong Kong Special Administrative Region (HKSAR) government.

Some sectors saw declines in unemployment rates, notably the decoration, repair and maintenance for buildings sector and the wholesale sector, while the unemployment rates of the remaining sectors either held steady or increased slightly, according to the official data.

Chris Sun, secretary for labor and welfare of the HKSAR government, said the labor market should improve further alongside the continued revival of local economic activities and inbound tourism, and the disbursement of the new batch of consumption vouchers beginning this month will also help.