In a recent report, Hong Kong's employment situation was highlighted with both challenges and opportunities. According to the Census & Statistics Department (C&SD), as of December 2024, the total number of employed individuals in the private sector fell by 0.3% year-on-year, equating to a reduction of 7,000 jobs. The total vacancies amounted to 58,410, showing a significant 20% decline compared to the previous year. Despite these setbacks, certain industries experienced growth in employment, indicating resilience and adaptation within specific sectors.

Details on Employment Trends in Major Sectors

In the bustling economic environment of Hong Kong, over 2.71 million people were engaged across various key industries. Among them, the import and export trade sector stood out as the largest employer with 354,500 workers. Professional and business services closely followed, employing 311,500 individuals, excluding cleaning and similar services. Notably, the financing and insurance industry supported 233,300 jobs, while retail trade involved 232,700 employees. In the food and beverage (F&B) sector, 220,900 people found employment.

During this period, some sectors faced contraction. Wholesale (-5.4%), retail trade (-5.3%), import and export trade (-2.2%), and F&B services (-1.6%) all registered employment declines. Conversely, other areas witnessed growth. Employment in real estate increased by 4.6%, human health services by 3.5%, and residential care and social work services by 3.1%. Vacancies were also noted, particularly in education, professional and business services, F&B services, residential care and social work services, and financing and insurance, each recording over 4,900 openings.

From a journalist's perspective, this data reflects a complex labor market where traditional sectors face difficulties while emerging or essential service sectors thrive. It underscores the importance of workforce adaptability and diversification in navigating economic shifts. For readers, it highlights the need for continuous skill development and strategic career planning amidst evolving industry demands.