ZCZC
BCN-11
HK-JOBLESS RATE
Hong Kong’s jobless rate drops to 6.8 pct
HONG KONG, April 22 (Xinhua) — Hong Kong’s jobless rate declined in the first quarter of this year as the pressure on the labor market began to ease due to an abating COVID-19 epidemic, official data showed Thursday.
The seasonally adjusted unemployment rate retreated to 6.8 percent during the Jan.-March period, down from a 17-year high of 7.2 percent registered from Dec. to Feb., according to the Census and Statistics Department of the Hong Kong Special Administrative Region government.
“The labor market was under notable pressure in the first quarter of 2021, but the situation stabilized in the latter part of the quarter as the fourth wave of the local epidemic receded,” Secretary for Labor and Welfare Law Chi-kwong said.
The unemployment rate of the consumption- and tourism-related sectors, namely retail, accommodation and food services sectors, combined fell by 0.4 percentage point to 10.7 percent. In particular, the rate for food and beverage service went down from 14.1 percent to 13.3 percent.
Looking ahead, Law said the labor market may still face challenges in the near term as the pace of recovery is uneven across sectors.
However, if the local epidemic situation continues to be contained, the operating environment for consumer-facing economic sectors may improve, which will help ease the pressure on the labor market, he said.
BSS/XINHUA/TIT/1632 HRS