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HK Latest Jobless Rate Climbs to 6.6%, 16-yr High
According to the latest labour force statistics released today by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate increased from 6.3% in September - November 2020 to 6.6% in October - December 2020 (against consensus of 6.4%). The underemployment rate remained unchanged at 3.4% in the two periods.
Commenting on the latest unemployment figures, the Secretary for Labour and Welfare, Law Chi-kwong said the labour market deteriorated again due to the fourth wave of local epidemic which started in the latter part of November. The seasonally adjusted unemployment rate rose by 0.3 percentage point from September - November 2020 to 6.6% in October - December 2020, the highest in 16 years, while the underemployment rate remained unchanged at 3.4%.
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