Jobless rate steady at 3.7% since start of 2026 but pressure mounting
Hong Kong’s jobless rate has remained unchanged since the start of the year, new figures show, although the labour chief has warned of rising pressure on unemployment as fresh graduates enter the workforce. The Census and Statistics Department said on Thursday that the seasonally adjusted unemployment rate stood at 3.7 per cent for the May-to-July period, remaining at that level on a rolling…
Hong Kong's jobless rate remained steady at 3.7% for the May-to-July period of 2026, according to new figures released by the Census and Statistics Department. The labour chief, Chris Sun Yuk-han, cautioned that fresh graduates entering the workforce could put pressure on unemployment rates. Despite a slight increase in underemployment to 1.7%, the expanding economy supported the job market, with both labour force and total employment rising.
Unemployment rose to 145,700, a 700-person increase from the previous quarter. The decline was notable in the foundation and superstructure sectors, while it worsened in retail and transport industries. The government recently raised its full-year economic growth forecast for 2026 to 3.5-4.5%, citing strong exports and tourist arrivals.
Experts note that while the 3.7% unemployment rate is ideal, AI adoption has eliminated many low-skilled positions, affecting fresh graduates. Retail and wholesale sector lawmaker Peter Shiu Ka-fai acknowledged the favorable rate but highlighted the sector's shrinking demand due to Hongkongers spending money outside the city and turning to e-commerce.
Meanwhile, the number of Comprehensive Social Security Assistance cases increased by 225 in July, with growing instances of old age and ill health among recipients.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
