Hong Kong: Seasonally adjusted unemployment rate fell to 3.8% from August to October 2025, underemployment rate remained unchanged at 1.6%

The Zhitong Finance App learned that according to the latest labor force statistics published by the Hong Kong Government Statistics Department today (November 18) (that is, provisional figures for August to October 2025), the seasonally adjusted unemployment rate fell from 3.9% from July to September 2025 to 3.8% from August to October 2025. The underemployment rate remained constant during these two periods, at 1.6%.

Compared with July to September 2025, the unemployment rate (not seasonally adjusted) declined in many major economic sectors from August to October 2025. Among them, retail, accommodation and catering services, professional and commercial services (excluding cleaning and similar activities), foundation and superstructure engineering, and finance showed significant declines. The underemployment rate in various industries varied, but the magnitude was generally small.

The total number of employed people fell from 3.674,500 in July to September 2025 to 3,672,700 in August to October 2025, a decrease of about 1,800. The total working population also declined from 3,830,100 to 3,822,300 during the same period, a decrease of about 7,800.

The number of unemployed (not seasonally adjusted) fell from 155,600 in July to September 2025 to 149,600 in August to October 2025, a decrease of about 6,000. The number of underemployed people rose from 60,000 to 60,800 during the same period, an increase of about 800.

Commenting on the latest unemployment figures, the Secretary for Labour and Welfare of Hong Kong, Mr Sun Yuhan, said, “The seasonally adjusted unemployment rate from August to October 2025 fell slightly by 0.1 percentage points to 3.8% compared to the previous three-month period. The underemployment rate remained unchanged at 1.6%. The working population and total number of employed persons declined slightly during the same period, while the number of unemployed persons also declined.”

Looking ahead, Sun Yuhan said, “The steady expansion of Hong Kong's economy, combined with steady improvement in business climate and gradual recovery in consumer confidence, should support the labor market. However, the employment situation in some industries will continue to face challenges brought about by economic transformation.”