Hong Kong’s unemployment rate has increased slightly to 3.2 per cent in the December 2024-February 2025 period – up 0.1 percentage points from the previous period – according to official figures.
The Census and Statistics Department (C&SD) on Tuesday released the seasonally adjusted job figures for the latest three-month period. The seasonally adjusted unemployment rate had previously stood at 3.1 per cent since August 2024.
Hong Kong measures its unemployment rate on a moving three-month basis and accounts for seasonal influences.
The C&SD said in a press release that “relatively notable increases” in the unemployment rates were observed in the food and beverage, transport, construction, and the professional and business services sectors.
Meanwhile, the city’s underemployment rate remained unchanged at 1.1 per cent, according to the latest figures. Underemployment refers to situations where workers are employed in less than full-time roles, or have insufficient jobs considering their training or economic needs.
Total employment decreased by around 7,100 to just over 3.71 million, while the labour force declined by 5,400 to around 3.82 million.
Unemployed persons increased by approximately 1,600 to 111,700.
In the same press release, Secretary for Labour and Welfare Chris Sun said the labour market “should remain largely stable in the near term,” but “some businesses would be affected by the uncertainties stemming from the United States’ trade protection measures.”
US President Donald Trump has imposed sweeping tariffs on goods from China – including those from Hong Kong – and threatened more duties on imports from each of its trading partners.
The US, the world’s largest economy, is a lucrative market for Hong Kong businesses. Some local companies have expressed concerns that Trump’s tariffs can wipe away their profits.
