Jobless rate steady at 3.7% since start of 2026 but pressure mounting

Jobless rate steady at 3.7% since start of 2026 but pressure mounting Fresh graduates and school leavers entering job market may pose some pressure on the unemployment rate, labour chief warns Hong Kong’s jobless rate has remained unchanged since the start of the year, new figures show, although the labour chief has warned of rising pressure on unemployment as fresh graduates enter the workforce. The Census and Statistics Department said on Thursday that the seasonally adjusted unemployment rate stood at 3.7 per cent for the May-to-July period, remaining at that level on a rolling three-month basis since the start of 2026. Authorities said the economy was growing so fast that it offered strong support to the job market. The underemployment rate rose to 1.7 per cent, up from 1.6 per cent in the April-to-June period. “Over the same period, both the labour force and total employment increased further,” Secretary for Labour and Welfare Chris Sun Yuk-han said. “The ongoing expansion of the local economy is expected to underpin overall labour market conditions, though fresh graduates and school leavers entering the labour market may pose some pressure on the unemployment rate.