17 Aug 2023

Positive signs: unemployment rate drops to 2.8%, employment rises, and labour market expected to improve

According to the latest labour force statistics (i.e. provisional figures for May - July 2023) released today (August 17) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate decreased from 2.9% in April - June 2023 to 2.8% in May - July 2023. The underemployment rate remained unchanged at 1.1% in the two periods.