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HK’s unemployment rate drops to 4.1% in June-Aug period

The unemployment rate in Hong Kong in the June-August period stood at 4.1%. There were 155,300 unemployed residents between July and September, from 161,900 in the previous period. The unemployment rate dropped for most age groups, with 42,600 workers between the ages of 20 to 29 finding jobs in July to September, from 41,000 in June to August. The underemployment rate fell from 2% to 1.8%, signalling fewer citizens working part-time. But the number of underemployed persons aged 20 to 29 grew to 11,900 from 11,500 - the only age group to see a rise. Hong Kong's seasonally adjusted unemployment rate eased to 3.9% in the July-September quarter, improving for the fifth consecutive period as economic activities revived in an easing Covid situation with support from a consumption voucher scheme.

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