Labour minister pessimistic over HK's jobless rate - RTHK
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Labour minister pessimistic over HK's jobless rate

2020-06-27 HKT 15:04
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  • Law Chi-kwong says he can't see Hong Kong's unemployment rate falling below three percent in the next few years. Photo: RTHK
    Law Chi-kwong says he can't see Hong Kong's unemployment rate falling below three percent in the next few years. Photo: RTHK
Labour Secretary Law Chi-kwong said on Saturday that he believes the city's unemployment rate will have exceeded six percent in recent weeks, adding that he's not optimistic about the situation in the near future.

The city's jobless rate climbed to a 15-year-high of 5.9 percent in the period between March and May, as the city reeled from the coronavirus pandemic.

Law said he thinks the figure will hover between 5 and 6 percent for some time, as the global economy has entered a recession.

He estimated that Hong Kong's unemployment rate will not fall below three percent in the next few years.

He noted that it took 20 years for the city's jobless rate to fall back to the level seen before the Asian Financial Crisis, Sars and the global financial crisis.