The overall unemployment rate in Hong Kong was 7% in 2020, with retail and tourism- related sectors still significantly affected by the COVID- 19 outbreak. This statistic shows the underemployment rate in Hong Kong from 2010 to 2020. At the other end of the spectrum, finance, insurance, real estate, professional and business services, and public services are at 2.1 . The unemployment rate of the food and beverage service activities sector increased to 6.2 per cent – the highest level in more than eight years, data released by the Census and Statistics Department on Tuesday has revealed. seasonally adjusted unemployment rate in Hong Kong rose quickly from 3.3% in October-December 2019 to 6.3% in September-November 2020. Source: CIA World Factbook, 2021 . For 2020, an inflation rate of 0.3% was calculated. Hong Kong's overall unemployment rate in the fourth quarter of 2020 is expected to reach 5.9%, nearly doubling the fourth quarter of 2019 level. Found inside2019. In the next chapter, we are going to venture into the theoretical discussion of hope, and reflect on the contribution of this book. ... 13 The unemployment rate has been low and is about 3% in today's Hong Kong. See Figure 4.3. HKIHRM Turnover Rate & Vacancy Rate Survey for Hong Kong. Found inside – Page 156In 2019, visitor arrivals totalled 39.4 million, with a 10.1% growth comparing to 2018. ... The major entry ports were Border Gate (53.1%), Hong Kong-Zhuhai-Macau Bridge (13.7%), and Macau International Airport (9.7%). Figure 1. Unemployment rate. Hong Kong Economic Outlook. 2.93% (2019 est.) Found inside – Page 38-4 -8 -12 -16 1999 2004 2009 2014 2019 2024 2029 Index , 1970 Q1 = 1 2.0 1.9 Exchange Value of the U.S. Dollar 1.8 1.7 ... Brazil , Canada , China , Hong Kong , India , Japan , Mexico , Singapore , South Korea , Taiwan , the United ... The city's unemployment rate hovered around 2.8 per cent throughout most of 2018 and the following year, but started climbing towards the end of 2019. Found inside – Page 78Unemployment. Number (thousands) and as rate (percentage) of labour force by source and coverage ... China, Hong Kong LFS Total unemployment (no.) 127.6 129.5 133.0 122.1 . ... 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019. Found insideIt increased by more than 10% to RM137.4 in 2019 compared to RM123.78 billion in 2018. ... followed by Singapore (RM136.89 billion), the United States (RM95.78 billion), Hong Kong (RM66.54 billion), Japan (RM65.24 billion), ... The inflation rate for consumer prices in Hong Kong moved over the past 38 years between -4.0% and 11.2%. Hong Kong unemployment rate for 2020 was 5.80%, a 2.84% increase from 2019. Hong Kong's employment market is showing signs of improvement as the city's latest unemployment rate drops to 5.5% for the three-month period ending in June. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. unemployment rate, the residential market continued to perform steadily. The data is harmonized to account for differences in national data and scope of coverage, methodologies and other country-specific factors which increases the comparability across countries. However, the unemployment rate and the number of unemployed cannot fully reveal the overall impact of the COVID-19 because the total labor force . In the latest reports, Hong Kong SAR (China) Population reached 7.47 million people in Dec 2020. Finally, although the unemployment rate in Hong Kong was only 3 percent overall in 20193, the consumption and tourism-related sectors have been significantly affected by the recent events in Hong Kong. Though Hong Kong unemployment rate fluctuated substantially in recent years, it tended to decrease through 2001 - 2020 period ending at 5.9 % in 2020. Found inside – Page 71First, on 3 March 2019 between ICSB (Perhutanan) and Priceworth International Berhad (PIB is 30 per cent owned by Rakyat ... The CEO of Lee & Man Paper, a large paper company based in Hong Kong, Mr Edmund Lee, announced in October 2018 ... revenues: 79.34 billion . Figure 2 - Home owners by type of housing in Hong Kong, 1997-2019 . According to the IMF, the inflation rate dropped from 2.9% in 2019 to 0.3% in 2020. Found inside – Page 9HKSAR's unemployment rate rose from 3.3 percent at end-2019 to 6.6 percent at end-2020, with retail and hospitality being the most affected sectors. However, growth has started to recover since the second half of 2020 and an economic ... Under the recession, young people aged 15 to 29 are even more vulnerable to job loss. Over the year, the biggest declines in the unemployment rate have . Gini Index coefficient - distribution of family income. 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Found inside – Page 90Unemployment. Number (thousands) and as rate (percentage) of labour force by source and coverage ... 174.5 Total unemployment (%) 17.5 17.1 15.2 13.8 ... ♢ 13.4 . ... 5.0 5.0 China, Hong Kong LFS Total unemployment (no.) ... The Legislative Council in Hong Kong most recently approved the revision on the SMW rate to increase to HK$37.5 per hour, effective May 1, 2019. Found inside – Page 328Beyond Income, Beyond Averages, Beyond Today - Inequalities in Human Development in the 21st Century United Nations ... 0.61 4 Germany 1.05 0.99 0.99 0.95 0.74 0.99 0.84 46.9 31.5 15.9 d 1.6d 1.00 4 Hong Kong, China (SAR) 1.08 0.99 0.98 ... Found inside – Page 103allowed to accumulate offshore in Hong Kong and, to a lesser extent, other centers; in 2013, a link was set up between ... of foreign exchange reserves in Q3 2018, ranking sixth globally (IMF 2019b), while in January 2019 it contributed ... The over five-month-long protests have hammered the SAR's key sectors and worsened the business environment, which will cause enterprises to experience operational difficulties. Found inside – Page 54Hong Kong's Crisis of Identity Bruce VonCannon. expected. ... 5 U.S. unemployment figures released by the U.S. Bureau of Labor Statistics in October 2019 showed 3.6% unemployment rate, the lowest unemployment figures in 50 years. “The Government will monitor the developments closely,” he added. The seasonally adjusted unemployment rate in Hong Kong fell to 5% for the May-July period, from 5.5% in April-June, beating expectations. Found inside – Page 10Hong Kong SAR's unemployment rate rose from 3.3 percent at end-2019 to 6.6 percent at end-2020. However, growth has started to recover since the second half of 2020 and an economic rebound in 2021 and 2022 is projected with growth ... Hong Kong's unemployment rate has more than doubled over the past year as the impact of the coronavirus epidemic devastated the economy which contracted by a record 6.1% in 2020. The underemployment rate also decreased slightly from 2.5% to 2.4%. Something went wrong. Kris Cheng is a Hong Kong journalist with an interest in local politics. Source: CIA World Factbook, 2021. Unemployment hit the retail market hardest, at 6.1 percent4. 3.2 Home ownership ratio in Hong Kong displays an inverted U-shape over the past 23 years. On June 9, 2019, over one million Hong Kong people marched to protest against a government plan to l e galize extradition to China. The slowdown was predominately driven by a weaker external sector as export growth tapered and import growth strengthened. The employment rate of Hong Kong University graduates hit a 4-year low. The seasonally adjusted unemployment rate in Hong Kong was unchanged at 6.4 percent in October of 2020, and remaining at the highest rate since January 2005, as the coronavirus pandemic hit the labour market. He said as the country continued to endeavour in flattening the surge of Covid-19 cases, the labour force was . Found inside – Page 379the colony in 1842. While shipping remains important, Hong Kong was once the largest container port in the world in terms of container TEU1 throughput, but declined to the eighth in 2019 (Levinson 2006; Loo and Hook 2002). List of countries by unemployment rate in 2019 presented on this page is based on estimates from the International Labor Organization (ILO) - the leading source of worldwide labor statistics. Under such an austere economic environment, maintaining the prevailing statutory hourly minimum wage rate can help strike an appropriate balance between the objectives of forestalling excessively low wages and minimizing the loss of . Hong Kong - Unemployment rate. Gini Index coefficient - distribution of family income. Hong Kong's seasonally adjusted unemployment rate fell to 5 percent in the May to July period of 2021 from 5.5 percent in the previous 3-month period. That's the highest since the three months to April 2004 . Hong Kong economy and unemployment rate could worsen, finance chief warns Iris Lam Sze-yui, 22, who is graduating in accounting and finance from HKU, is more fortunate than her peers. Seasonally Adjusted as at Mar : 2.8 . Various data can be downloaded and output in csv format for use in . Governance Structure. [61] Resident Unemployment Rate (%) Annual Average: 2.9: 2.8: 2.8: 2.7: 2.8: 3.0: 3.1: 2.9: 3.1: 4.1: n.a. Law said the labour market will be under even more pressure in the coming term if the overall economy continues to weaken. The official jobless rate stood at 7.0% in the three months to end-January 2021, up from 3.3% in the October-December 2019 period, government data show. Unemployment rate. country comparison to the world: 8. Hong Kong unemployment rate for 2019 was 2.96%, a 0.08% decline from 2018. Hong Kong’s unemployment rate has risen by 0.1 per cent since September after taking a hit from “local social incidents,” according to the latest government-released data. "The unemployment rates in most sectors increased compared with the preceding three-month period. According to the 2020 graduate employment data of the University of Hong Kong, among the 3,219 full-time undergraduate graduates, the employment rate was only 75.1%, the lowest since 2017, while the continuing education rate was 21.3%, the highest in . Over the same period, the labour force also. Hong Kong's "Unemployment rate for women" is 3.64% which is the 135th highest in the world ranking. Found inside – Page 3Robust Factor Analysis Parameter Estimation Rui Zhou(B), Junyan Liu, Sandeep Kumar, and Daniel P. Palomar Department of Electronic and Computer Engineering, The Hong Kong University of Science and Technology, Kowloon, Hong Kong ... The staff turnover rate was 19. Both the seasonally adjusted unemployment rate and the underemployment rate went up by 0.2 percentage points in August - October 2019, to 3.1 percent and 1.2 percent respectively. Found inside – Page 6Despite its small size, it is the world's seventh largest trading economy (Hong Kong Government, 2019) and has ... Despite a low unemployment rate, which has remained at around 3% for years, one-fifth of the population is living in ... HONG KONG, Jan 9 (SCMP): Hong Kong's unemployment rate, already at a 16-year high, will get worse before it gets better, a government economist predicted on Thursday, though further relief . Unemployment refers to the share of the labor force that is without work but available for and seeking employment. lowest 10%: 1.8% NA highest 10%: 38.1% NA (2016) Budget. Hong Kong employment outlook 2019 Human Resources Online is a media & events brand that is passionate about the progression of HR, through our platforms ranging from print & digital content to events, for Asia's HR practitioners and solution providers. Unemployment among those between 20 and 24 years old in Hong Kong hit 17.5% between September and November 2020, while the overall rate was 6.3%. Population below poverty line. Found inside – Page 322“Here's Why Singapore Can't Beat Hong Kong's Financial Centre Ratings”, Singapore Business Review, 13 September 2018 ... Seow Bei Yi, “More Singaporeans Find Jobs, but Long-term Unemployment Rate Rises: MOM”, Straits Times, 13 September ... Unemployed citizens include persons older than 15 years of age, who have not had paid employment over the last 7 days. He noted that the Labor Department canvasses vacancies for job-seekers with different educational background and working experience from employers in various industries; and organized large-scale job fairs in different locations as well as industry-based and district-based job fairs at its recruitment centers and job centers respectively to expedite the dissemination of employment information and help different job-seekers to secure employment. Founded in 2015, Hong Kong Free Press is a non-profit, impartial, English-language newspaper – run by journalists and completely independent. However, domestic demand rebounded notably in the quarter—hitting an over 11-year high—as both private consumption and fixed investment surged . In addition, tourists from Chinese mainland accounted for 78.29% of the total number of visitors to Hong Kong in 2019. Hong Kong has entered its seventh month of unrest, initially over a now-withdrawn extradition agreement proposal with mainland China. The actual number of unemployed has reached 244,000, which nearly doubled the number of 124,000 at the end of 2019. Hong Kong's "Unemployment rate" is 5.8% which is the 107th highest in the world ranking. It was the lowest jobless rate since the first quarter of 2020, as the economy stayed on track for recovery. August 24, 2021. Basic Info. This is higher than the long term average of 8.21%. Notes: The seasonally adjusted figures are derived using X-12 ARIMA to remove the seasonal influences in . The year-on-year decline in total employment enlarged.". According to the latest labour force . Hong Kong's seasonally adjusted unemployment rate fell to 5 percent in the May to July period of 2021 from 5.5 percent in the previous 3-month period. 135. In Q4 2020, the seasonally-adjusted unemployment rate surged to 6.6%, up from 6.3% in the previous quarter and 3.3% in Q4 2019, according to Census and Statistics Department , as a new wave of COVID-19 cases halted a wide range of economic activities. However, the unemployment rate and the number of unemployed cannot fully reveal the overall impact of the COVID Help safeguard independent journalism and press freedom as we invest more in freelancers, overtime, safety gear & insurance during this summer’s protests. Total employment decreased from 3,843,800 in August to October 2019, to 3,830,600 in September to November 2019 - representing a drop of 13,200. The calculation includes citizens who have been seeking employment for the past 30 days, as well as those who stopped searching (reflected . Please refresh the page and/or try again. Hong Kong Unemployment Rate is at 3.63%, compared to 2.90% last year. The unemployment and underemployment statistics were compiled from findings by the continuous General Household Survey. The survey from September to November 2019 covered a sample of around 26,000 households or 74,000 persons. Found insideUnemployment rates peaked at 27 percent in late 2013 but were down to 14 percent as of 2019. Still, youth unemployment rates are among the ... including the Gulf states, Hong Kong and Singapore. In Malaysia and Singapore, female guest ... Found insideInflation and unemployment rates since 1981 are shown in table 3.2. The inflation rate is measured by ... High rates of inflation have been a drawback to Hong Kong's international competitiveness. Unemployment was also relatively high ... Found inside – Page 2017In 2019 Iceland and Australia tied for 6th in the Index. ... Unemployment in 2012 fell to 5.8 percent, and GDP grew 1.6 percent. ... with Austria and Hong Kong, out of 180 nations in its annual survey on corruption. In 2018 the World ... After an upsurge from 46.7% to a peak of 54.3% during 1997-2004, the ratio then plateaued . Found insideThis is the United Nations definitive report on the state of the world economy, providing global and regional economic outlook for 2020 and 2021. Found inside – Page 94It too has experienced weaknesses in its banking sector and a growing unemployment rate. ... Although the planes were still expected to touch down in Hong Kong or Macao before flying on to the People's Republic, passengers no longer had ... provisional figures for July - September 2019) released today (October 18) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate stood at 2.9% in July - September 2019, same as that in June - August 2019. country comparison to the world: 37. Household income or consumption by percentage share. Found inside – Page 7After robust growth of 3 percent in 2018, economic activity weakened significantly in 2019 and the economy fell into a ... The seasonally adjusted unemployment rate has edged up to 3.1 percent in August–October as displaced workers from ... If the adverse effects of the COVID-19 pandemic persist, the overall unemployment rate may even reach a historic high, surpassing its peak at 8.5% during the 2003 . In 2020, the rate of underemployment in Hong Kong climbed to around 3.3 percent. The last time we saw the unemployment rate surge above 6% GRAPH 3: Hong Kong Monetary Base And 1-month HIBOR, January 2009 to December 2020 Source HKMA 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 500 1,000 1,500 2,000 2,500 HK$ BILLION Monetary base (LHS) 1M HIBOR . Found insideThis annual edition of Labour Force Statistics provides detailed statistics on population, labour force, employment and unemployment, broken down by gender, as well as unemployment duration, employment status, employment by sector of ... Within this segment, the unemployment rate for those working in food and beverage service activities went up to 6.1 percent, the highest in more than six years. He has a BSSc in Sociology from the Chinese University of Hong Kong. The number of unemployed people with college degrees has reached 61,700 in Hong Kong, an increase of about 27,000 over the same period in 2019. country comparison to the world: 37. Transition graphs on "Unemployment rate" in Hong Kong and comparison bar charts (USA vs. China vs. Japan vs. Hong Kong), (Sierra Leone vs. Lao People's Democratic Republic vs. Hong Kong) are used for easy understanding. “The labour market eased further as economic conditions continued to worsen,” the Secretary for Labour and Welfare Law Chi-kwong said. A key finding is that poor job quality is a prime concern for the most of the global labour force. In addition, unemployment and labour underutilization remain high in many countries, despite improvements in recent years. Unemployment is rising rapidly. Hong Kong Youth Unemployment Rate is at 10.03%, compared to 8.32% last year. It follows . Law Chi-kwong, the secretary of the SAR's Labour and Welfare Bureau, said, "The labor market eased further as economic conditions continued to worsen. This statistic shows the unemployment rate in Hong Kong from 2010 to 2020. Unemployment refers to the share of the labor force that is without work but available for and seeking employment. Household income or consumption by percentage share. Transition graphs on "Unemployment rate for women" in Hong Kong and comparison bar charts (USA vs. China vs. Japan vs. Hong Kong), (Sierra Leone vs. Lao People's Democratic Republic vs. Hong Kong) are used for easy understanding. Found inside – Page 94Unemployment. Number (thousands) and as rate (percentage) of labour force by source and coverage ... 6.1 654.3 7.2 5.0 112.1 2.8 187.0 5.7 1 222.8 6.3 634.1 7.0 5.1 112.9 2.8 China 1 China, Hong Kong LFS LFS 106.6 2.7 SAR 4 5 China, ... The underemployment rate also remained unchanged at 1.0% in the two periods. “The year-on-year decline in total employment widened further.”. Found inside – Page 254The Faculty of Law at The University of Hong Kong, 1969–2019 Christopher Munn ... The next five years saw high unemployment, colossal falls in property values, and general deflation. In 2003, when unemployment reached a peak of 7.9 per ... country comparison to the world: 8. During the observation period from 1982 to 2020, the average inflation rate was 4.2% per year. Economy. Information from 42 companies representing a total of 47,477 employees was collected and analysed. Population below poverty line. According to the latest labour force statistics (i.e. Hong Kong 2019: The Facts The Economy Economic growth Year-on-year rate of change in GDP in real terms: -1.2%# Inflation affecting consumers Year-on-year rate of change in composite CPI: 2.9% Transport Roads The 2,127km of public roads carry 794,366 licensed vehicles, or an average of 373 vehicles per km Bridges Longest: Tsing Ma suspension bridge (main span 1,377m) and cable-stayed . Hong Kong news – Independent, impartial, non-profit. The seasonally adjusted unemployment rate in Hong Kong rose quickly from 3.3% in October-December 2019 to 6.3% in September-November 2020. The employment rate of Hong Kong University graduates hit a 4-year low. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 17.7 million in 2009, outnumbering visitors . Unemployment rate: 2.93% (2019) Youth unemployment rate: 8.7%. The government expects demand to hold up well with strong fundamentals including the low unemployment rate (2.8% in March 2019) and steady consumer price inflation (3.3% in June 2019). World Development Indicators (WDI) is the World Bank s premier annual compilation of data about development. List of countries by unemployment rate in 2019 presented on this page is based on estimates from the International Labor Organization (ILO) - the leading source of worldwide labor statistics. 2017. Found inside – Page 225It took about 20 years to develop the system, but social challenges (e.g. unemployment, poverty, economic downturn and high housing costs) continuing to be more serious in Hong Kong, examples of which are as follows: the Gini ... Hong Kong's economy contracted for the first time in a decade in 2019 due to often-violent anti-government protests and the U.S.-China trade war. Our work is governed by a Code of Ethics and we publish an Annual Report and Transparency Report every year. Any Any future decline in the unemployment rate will largely depend on the pace of economic recovery in Hong Kong. Found inside – Page 61While the outlook of 2019 is clouded by uncertainties, external demand is expected to remain solid. This is underpinned by cross-border infrastructure upgrades, in particular, the commissioning of the Hong Kong-Zhuhai-Macao Bridge ... provisional figures for December 2018 - February 2019) released today (March 19) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate stood at 2.8% in December 2018 - February 2019, same as that in November 2018 - January 2019. Hong Kong Free Press relies on direct reader support. Meanwhile, total employment continued to increase, by 9 900 to 3 650 000, and the number of unemployed persons went down further by 14 700 to 198 400. The. Highly service-oriented economy. The number of unemployed persons (not seasonally adjusted) decreased by around 2,000 to 257,800 in August-October 2020. 53.9 (2016) 53.7 (2011 est.) Views expressed by opinion writers and advertisers are not necessarily shared by HKFP. The unemployment rate increased really high in the first half of 2020 with a challenging labour market. This was the beginning of many months of protests, in which at least two million of Hong Kong's 7.3 million people took part. It is worth noting that Hong Kong posted the largest-ever quarterly economic contraction of 8.9% in the first quarter of 2020 (Chan, 2020). Unemployment Rate 3-month represents a percentage change in the total number of unemployed Hong Kong citizens over the past three months. Governance. The 2019 edition of the OECD Employment Outlook presents new evidence on changes in job stability, underemployment and the share of well-paid jobs, and discusses the policy implications of these changes with respect to how technology, ... Found inside – Page 25Housing prices appear overvalued relative to income and rent, based on both historical norms in the Hong Kong SAR and ... Despite the sharply rising unemployment rate and falling income in 2020 caused by Covid-19, housing prices, ... Various data can be downloaded and output in csv format for use in EXCEL free of charge. Found inside – Page 2652018 2018 I II III Apr May Jun Jul Aug Sep Oct Nov Interest Rates Percent Per Annum: Discount Rate (End of ... Unemployment 109 113 . ... International Transactions & Positions Billions of Hong Kong Dollars Exports 943.52 1,021.93 . A handful of notable transactions were recorded during the month, including a Wheelock Properties house at 77E Peak Road, with a saleable area of 7,527 sq ft, which was sold Hong Kong's natural resources are limited, and food and raw materials must be imported. Beijing ICP prepared NO.16065310-3, Hong Kong's unemployment rate rose to 3.1% in Aug.-Oct. 2019, its economy shrank by a seasonally adjusted 3.2 percent in July-September. "The Hong Kong economy was in a deep recession with an elevated unemployment rate and the economic outlook was faced with an unusually high degree of uncertainty. lowest 10%: 1.8% NA highest 10%: 38.1% NA (2016) Budget. 2.83% (2018 est.) Hong Kong unemployment rate for 2018 was 3.04%, a 0.05% decline from 2017. Hong Kong unemployment rate for 2018 was 3.04%, a 0.05% decline from 2017. This is lower than the long term average of 3.66%. © 2021 Hong Kong news - Independent, non-profit, run by journalists. |  Contact Us  |  Newsletter  |  Annual & Transparency Report. Looking ahead, Law said, "The unemployment rate will be under increasing upward pressure as local social incidents involving intensifying violence continue to take a heavy toll on the economy. Hong Kong's . His work has been featured in Washington Post, Public Radio International, Hong Kong Economic Times and others. Found insideAn Annual Review and Preview 2020 Beijing Arbitration Commission / Beijing International Arbitrati Wolters Kluwer Hong Kong. estates–related disputes in 2019, although slightly less than in 2018, is still huge. It was the lowest jobless rate since the first. Found inside – Page 71Tourism in Hong Kong was severely affected due to the mandatory 14-day quarantine regulation: total visitor arrivals from January to June 2020 fell by 89.9% compared to the same period in 2019 (Hong Kong Tourism Board 2020).
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