Hong Kong sees a rise in unemployment rates

Published on : Saturday, October 19, 2019

The violent incidents that kept weighing on consumer-related industries led to a surge in the unemployment rates in tourism which catered to massive strike in the past three months in Hong Kong.

 

 

During the July-September period the unemployment rate of consumption and tourism related segment increased to 4.9 percent during which is the highest in more than two years.

 

On Friday, secretary for labor and welfare of China’s Hong Kong Special Administrative Region Law Chi-Kwong said this.

 

The  unemployment rate of the food and beverage service activities sector rose sharply to a six-year high of 6 percent which was attributed to weak local consumption and plunging visitor arrivals caused by local social incidents.

 

The local labour market in the near term has worsened the economic conditions and has put increasing pressure.

 

 

Step will be taken to stabilize the job market which will include the provision of retention allowance to encourage on-the-job training.

 

 

In the past three months ending September, Hong Kong’s overall unemployment rate stood at 2.9 percent in the past three months  and it was flat in the June-August period. The underemployment rate also remained unchanged at 1 percent.

 

This was as per the Census and Statistics Department.

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