The latest unemployment rate in Hong Kong rose slightly by 0.1 percentage points to 3.9%, slightly higher than expected

According to the latest labor force statistics released today by the Census and Statistics Department, the seasonally adjusted unemployment rate rose from 3.8% in October to December 2025 to 3.9% in November 2025 to January 2026, higher than the market expectation of remaining at 3.8%. The underemployment rate remained unchanged during these two periods, staying at 1.7%.

Compared to the period from October to December 2025, the unemployment rate (not seasonally adjusted) and underemployment rate in various industries during the period from November 2025 to January 2026 varied, but the changes were generally not significant. The increase in the unemployment rate (not seasonally adjusted) was mainly seen in the insurance, construction, and financial sectors, while the decrease was mainly observed in the transportation and cleaning and similar activities sectors.

The total employment number decreased from 3,667,000 in October to December 2025 to 3,665,900 in November 2025 to January 2026, a reduction of about 1,100 people. The total labor force for November 2025 to January 2026 was 3,804,300, roughly similar to the figure of 3,805,200 in October to December 2025.

The number of unemployed people (not seasonally adjusted) in November 2025 to January 2026 was 138,400, roughly similar to the figure of 138,200 in October to December 2025. In terms of underemployment, the number for November 2025 to January 2026 was 65,100, roughly similar to the figure of 64,800 in October to December 2025.

The Secretary for Labour and Welfare, Sun Yuhan, commented on the latest unemployment figures, stating that the seasonally adjusted unemployment rate for November 2025 to January 2026 rose slightly by 0.1 percentage points to 3.9% compared to the previous three-month period. Meanwhile, the underemployment rate remained unchanged at 1.7%. The labor force level was roughly similar to that of the previous three-month period, with a slight decline in total employment.

Looking ahead, Sun Yuhan said, "The continued growth momentum of the Hong Kong economy should help support the overall labor market. However, employment conditions in some industries may continue to be under pressure due to challenges in the operating environment."