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

On January 20, according to the latest labor force statistics released by the Hong Kong Census and Statistics Department (temporary figures for October to December 2024), the seasonally adjusted unemployment rate for October to December 2024 was 3.1%, the same as the previous period of September to November 2024. The underemployment rate also remained unchanged at 1.1% during these two periods. Comparing October to December 2024 with September to November 2024, the unemployment rates (not seasonally adjusted) and underemployment rates in various industries showed some changes, but the magnitude of change was generally small. The total employment population increased from 3,711,800 in September to November 2024 to 3,718,900 in October to December 2024, an increase of about 7,100 people. The total labor force for October to December 2024 was 3,832,400, which was similar to the figure for September to November 2024 (3,831,500). The number of unemployed persons (not seasonally adjusted) decreased from 119,700 in September to November 2024 to 113,600 in October to December 2024, a decrease of about 6,100 people. Meanwhile, the number of underemployed persons increased from 41,700 to 43,500 during the same period, an increase of about 1,800 people. When commenting on the latest unemployment figures, Secretary for Labour and Welfare of Hong Kong, Law Yuet Han, mentioned that the seasonally adjusted unemployment rate for October to December 2024 remained at a low level of 3.1%, the same as September to November 2024. The underemployment rate also remained unchanged at 1.1%. The total employment population increased by 7,100 to 3,718,900 while the labor force slightly increased by 900 to 3,832,400. The number of unemployed persons decreased by 6,100 to 113,600. Compared to the previous three-month period, the unemployment rates of many industries decreased in October to December 2024, especially in the manufacturing, financial, social work, and arts, entertainment, and recreation industries. Looking ahead, Law Yuet Han said that the Hong Kong labor market is expected to remain stable in the short term, but the employment situation in some industries may be more affected by the increasing uncertainty in the global economic environment.