People cross a street in Hong Kong on May 8, 2022. (DALE DE LA REY / AFP)

HONG KONG – The seasonally adjusted unemployment rate dropped by 0.2 percentage points to 4.1 percent for the period between June and August compared to the period from May to July, the Census and Statistics Department announced on Monday.

The underemployment rate also decreased to 2 percent during the period, according to a government press release.

Total employment rose by around 16,200 to 3,609,300 while the labor force increased by around 9,900 to 3,771,200.

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The labor market continued to improve alongside the revival of domestic economic activities, partly supported by the Phase II Consumption Voucher Scheme.

Chris Sun, Secretary for Labour and Welfare, HKSAR

There were 161,900 unemployed people from June to August, a drop of about 6,300 from the preceding three-month period. The number of underemployed people went down by around 7,900 to 76,400.

Almost all major economic sectors saw a decrease in the unemployment rate, with more distinct decreases observed in the decoration, repair and maintenance for buildings sector, as well as arts, entertainment and recreation sector.

“The labor market continued to improve alongside the revival of domestic economic activities, partly supported by the Phase II Consumption Voucher Scheme,” said Secretary for Labour and Welfare Chris Sun.

In the near term, the labor market should improve further with the extent of improvement largely depending on the performance of domestic economic activities, he said.

“The Consumption Voucher Scheme should continue to support local consumption demand, yet the recent tightened financial conditions may pose some constraints.”

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The development of the local epidemic may also have an effect on economic activities and thus the labor market, and it is crucial for the community to work in unison with the government to bring the epidemic under control, he added.