In recent months, Hong Kong has witnessed an uptick in its unemployment figures, reflecting broader economic shifts. Official statistics from the Census & Statistics Department reveal that the jobless rate climbed to 3.4% during the February to April 2025 timeframe, marking an increase from the previous quarter's 3.2%. Additionally, underemployment rates have also seen a slight rise. This trend coincides with a reduction in total employment numbers by approximately 15,600 individuals. Labour and Welfare Secretary Chris Sun attributes these changes to a transitional phase affecting various sectors, although he remains optimistic about the positive influence of easing trade tensions and sustained mainland economic growth.

During the early part of 2025, Hong Kong's labor market experienced noticeable fluctuations. The unemployment rate for the period spanning February through April reached 3.4%, indicating an upward movement compared to the preceding three months. Similarly, the underemployment rate increased slightly, moving from 1.1% to 1.3%. These developments are indicative of ongoing transformations within different industries across the region. Notably, the overall number of employed individuals dropped significantly, shrinking by roughly 15,600 people. This contraction brings the total employment figure down to 3.67 million.

Secretary Chris Sun highlighted that numerous sectors in Hong Kong are currently navigating a period of transition. Such transitions often lead to fluctuations in unemployment levels as businesses adapt to new market conditions. Despite these challenges, Sun expressed confidence in the resilience of Hong Kong's economy. He pointed out several favorable factors contributing to this optimism, including the relaxation of global trade tensions and robust economic expansion on the mainland. Furthermore, governmental initiatives aimed at enhancing economic momentum continue to provide crucial support to the labor market.

Looking ahead, there is cautious optimism regarding the future stability of Hong Kong's labor landscape. Although current indicators point towards temporary disruptions due to sectoral adjustments, underlying economic fundamentals remain strong. The anticipated benefits from improved international trade relations and consistent policy measures should help mitigate adverse effects on employment levels. As such, stakeholders anticipate gradual improvements in both unemployment and underemployment metrics over subsequent quarters.