Hong Kong Jobless Rate Hits 15-Year High Amid Virus, Unrest
- Rate surpasses Global Financial Crisis peak in August 2009
- Number of unemployed has risen by about 100,000 since December
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Hong Kong’s unemployment rate rose to the highest level in 15 years in May, in the wake of the coronavirus shutdowns and renewed anti-government protests.
The jobless rate rose to 5.9% for the March-to-May period, compared with the 5.5% median forecast among economists surveyed by Bloomberg. The underemployment rate climbed to 3.5%, the highest in almost 17 years, according to the government release.