Economics
Hong Kong Unemployment Rises to Highest in Nearly Decade
- Joblessness at highest level since October 2010 in city
- Labor market under pressure from political unrest, then virus
This article is for subscribers only.
Hong Kong’s jobless rate rose for a sixth straight month in March to the highest level since October 2010 as restrictions to control the coronavirus outbreak continue to pressure the city’s battered economy.
The unemployment rate increased to 4.2% for the January-to-March period, higher than the median estimate of 4.0% among economists surveyed by Bloomberg. The jump extended the longest stretch of increases since the aftermath of the global financial crisis. The underemployment rate climbed to 2.1%, the highest in almost a decade.