Hong Kong: The seasonally adjusted unemployment rate from August to October 2024 was 3.1%.

According to the latest labor force statistics released by the Hong Kong Special Administrative Region Government Census and Statistics Department on November 18th (i.e. provisional figures for August to October 2024), the seasonally adjusted unemployment rate increased from 3.0% in July to September 2024 to 3.1% in August to October 2024. The underemployment rate decreased from 1.2% in July to September 2024 to 1.1% in August to October 2024. Compared to July to September 2024, in August to October 2024, the unemployment rate (not seasonally adjusted) increased in most major economic sectors, including the cleaning and similar activities sector, arts, entertainment, and recreation sector, and the transportation sector. The underemployment rate decreased primarily in the construction sector and the warehousing and transportation support activities sector. The total employment number decreased from 3,710,200 in July to September 2024 to 3,707,100 in August to October 2024, a decrease of about 3,100 people. The total labor force also decreased from 3,830,100 people to 3,827,900 people, a decrease of about 2,200 people. The number of unemployed individuals (not seasonally adjusted) increased from 119,900 in July to September 2024 to 120,700 in August to October 2024, an increase of about 800 people. The number of underemployed individuals decreased from 46,000 to 42,300, a decrease of about 3,700 people. In commenting on the latest unemployment figures, Hong Kong Secretary for Labour and Welfare Sun Yuk Han noted that the seasonally adjusted unemployment rate for August to October 2024 remained low at 3.1%, although it increased slightly by 0.1 percentage points compared to July to September 2024. The underemployment rate decreased slightly by 0.1 percentage points to 1.1%. The labor force and total employment numbers decreased slightly by 2,200 and 3,100 people, respectively, to 3,827,900 and 3,707,100 people. The number of unemployed individuals increased slightly by 800 people to 120,700. In different industries, the cleaning and similar activities sector, arts, entertainment, and recreation sector, and the transportation sector showed significant increases in the unemployment rate. On the other hand, the unemployment rate in the retail and food service activities sectors decreased slightly. The unemployment rate in the construction sector remained unchanged. Looking ahead, Sun Yuk Han said, "As the economy continues to grow, the labor market should remain relatively tight in the short term, although employment conditions may vary depending on the performance of each industry." In August to October 2024, the Labour Department in Hong Kong recorded an average of 62,131 vacancies from private institutions per month, a decrease of 36.7% year-on-year, and a 6.2% decrease from the average number in July to September 2024.