In a worrisome development for Hong Kong's economy, the seasonally adjusted unemployment rate has climbed from 3.1% to 3.2% during the three-month period from December 2024 to February 2025, as revealed by provisional data from the Census and Statistics Department (C&SD). This slight increase is underlined by a troubling decline in total employment by 0.2%, with approximately 7,100 fewer jobs available, bringing the total employment figures down to about 3,709,500.

The labour force itself has also shrunk, dropping by 0.1%—a decrease of around 5,400 workers to a total of 3,821,300. Alarmingly, the number of unemployed residents surged, rising by 1,600 to reach 111,700. Interestingly, the underemployment rate has held steady at 1.1%, with the number of underemployed individuals seeing a drop of 2,300, totaling 40,700.

Secretary for Labour and Welfare Chris Sun addressed these developments, acknowledging that despite the increase in unemployment, Hong Kong’s labour market remains relatively resilient. He stated, “The seasonally adjusted unemployment rate stayed low at 3.2% in December 2024 – February 2025, edging up by just 0.1 percentage point from the previous period.”

However, Sun was quick to highlight significant disparities across various sectors. Industries such as food and beverage services, transportation, construction, and professional and business services (excluding cleaning services) have experienced marked increases in unemployment rates.

Looking ahead, Sun expressed cautious optimism for the labour market’s stability, attributing it to ongoing economic recovery efforts. Nevertheless, he warned that external factors, particularly uncertainties related to U.S. trade protection measures, could negatively affect certain sectors and businesses.

As residents and analysts alike keep a close watch on these economic indicators, the question remains: what will it take to bring Hong Kong's job market back to its former glory? As the city grapples with these challenges, all eyes are on the future to see if recovery can truly take hold amidst the looming uncertainties.