Unemployment rate sees eight month decline to 3.5 pc

Hong Kong’s unemployment rate logged a continuous declining trend for eight months to hit 3.5 percent, while around 126,000 workers are looking for jobs.

The Census and Statistics Department released the latest labor force statistics report on Thursday, showing the seasonally adjusted unemployment rate of the city decreased from 3.7 percent in the period from September to November last year to 3.5 percent between November and December.

The number of unemployed was also reduced by 12,700 to 126,000 people when compared to the last calculation period. The unemployment rate dropped across almost all the major economic sectors, with more distinct decreases observed in the construction, retail, transportation, and education sectors.

"The local labor market will see a further improvement with the cancellation of most Covid restrictions and the resumption of travels with the mainland," said Secretary for Labour and Welfare Chris Sun Yuk-han.