Hong Kong Jobless Rate Was Already Rising Before Coronavirus Hit
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Hong Kong’s jobless rate rose in January for a fourth straight month, reaching its highest level since 2016 as the city’s businesses struggle from the political unrest and also from the disruption starting late in the month caused by the coronavirus outbreak.
The city’s jobless rate rose to 3.4% for the November to January period, the same as the median forecast in a survey of economists. The string of increases was the longest since 2009, in the aftermath of the global financial crisis. The data does not reflect the full impact of shutdowns from the coronavirus outbreak, which emerged toward the end of January.