Seminar on ‘two sessions’ held

Unemployment rate stays at 2.9%

The seasonally adjusted unemployment rate stood at 2.9% for the period between December 2023 and February 2024, unchanged from November 2023 to January 2024, the Census & Statistics Department announced today.


The underemployment rate also remained unchanged, at 1%.


Total employment decreased by around 2,300 to 3,694,700, while the labour force shrank by around 2,700, to 3,797,000.


The number of unemployed people was 102,300, unchanged from the preceding three-month period. The number of underemployed people decreased by around 1,200 to 37,600.


Besides highlighting that the unemployment rates of various sectors remain low, Secretary for Labour & Welfare Chris Sun said the labour market is expected to stay tight in the near term, in parallel with continued growth in the local economy.