Hong Kong unemployment rate reduced to 12-month low in May as the economy continues to recover from prolonged recession.
- The jobless rate in May dropped to 6.0% from 6.4% in the previous month, the lowest unemployment rate in three consecutive months. The rate was below the forecast of 6.2% by Bloomberg’s surveyed economists.
- The unemployed people reduced by 14,300 to 233,300 in May as the overall employment figure increased to 3.63 million.
- Hong Kong’s economy is slowly recovering from the historic low recession easing the pressure on the labor market.
Improved mobility and vaccinations are fueling the sustained economic recovery in Hong Kong.
HSI gains +0.43.