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Coronavirus pandemic
Hong KongHong Kong Economy

Hong Kong jobless rate hits nine-year high as coronavirus crisis and months of unrest take toll

  • Unemployment rate hits 3.7 per cent in February, increasing for fifth straight month, and at the worst level since January 2011
  • All major sectors feel pressure, with construction and food and beverage industry especially hard hit

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Hong Kong has taken an added hit from the coronavirus epidemic. Photo: Xiaomei Chen
Ng Kang-chung
Hong Kong’s jobless rate rose in February for a fifth straight month, hitting 3.7 per cent – the highest in more than nine years – as the city’s economy reeled from the double blow of the coronavirus epidemic after months of political unrest that had pushed it into recession.

Official figures released on Tuesday showed the unemployment rate rose 0.3 percentage points for the three months to February, from 3.4 per cent for the November-to-January period.

The underemployment rate also increased to 1.5 per cent from 1.2 per cent.

The string of increases was the longest since late 2008, in the aftermath of the global financial crisis. The latest figure was also the highest since January 2011 when the jobless rate hit 3.8 per cent.

Secretary for Labour and Welfare Dr Law Chi-kwong warned: “The labour market deteriorated sharply, as the Covid-19 epidemic caused severe disruptions to a wide range of economic activities and dampened economic sentiment.

“The labour market will be subject to even greater pressure in the near term, and the exact impact will hinge on the duration and severity of the pandemic around the world.”

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