Hong Kong Fourth-Quarter 2020 Unemployment At 16-Year High, Hit By Economic Slowdown

The underemployment rate remained unchanged at 3.4% in the two three-month rolling periods. The number of unemployed rose by about 1,500 people to 245,800 in the three months ended in December. Hong Kong’s seasonally adjusted unemployment rose to a 16-year high of 6.6% in October-December 2020, as a new wave of coronavirus infections slammed the brakes on a wide range of economic activities. The figure compared with 6.3% in the September-November period and was the highest since the last quarter of 2004 when unemployment hit 6.6%. The underemployment rate remained…

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