Labour market improves as unemployment rate stays at 3% in March-May: gov't

Unemployment rates of construction and wholesale sectors declined.

The seasonally adjusted unemployment rate remained at 3.0% in March - May 2023, similar to the February - April period, data from the Census and Statistics Department (C&SD) showed. 

Figures also showed that the underemployment rate also remained unchanged at 1.2% in the two periods.

The total employment grew by around 17,900 from 3,655,900 in February - April 2023 to 3,673,800 in March - May 2023. Over the same period, the labour force also increased by around 16,700 from 3,770,300 to 3,787,000.

The number of unemployed persons (not seasonally adjusted) declined by around 1,300 from 114,400 in February - April 2023 to 113,100 in March - May 2023. The number of underemployed persons in March – May 2023 was 44,400, about the same as that in February - April 2023 (44 500).

During this period, unemployment rate in the consumption- and tourism-related sectors, retail sector and food and beverage remained unchanged. 

The rate in accommodation services sector declined by 0.4 percentage point to 3.5%. The unemployment rates of some sectors also declined, such as for the construction sector, the wholesale sector, the human health activities sector and the social work activities sector. 

Secretary for Labour and Welfare Chris Sun, said the labour market should improve further in the coming months amidst the economic revival.