Hong Kong Secretary for Labour and Welfare Matthew Cheung Kin-chung stated that while youth employment faces certain pressures every summer, the rise in the youth unemployment rate this year has been modest, and the labor market climate remains stable.
Mr. Cheung told the media on the 6th that the youth unemployment rate is between 12% and 13%, which is comparable to previous years. Approximately 42,000 young people are currently unemployed, with the 15 to 19 age group accounting for over 9,000, while the remaining thirty-plus thousand are aged 20 to 24. In August, the Labour Department received 120,000 private sector job vacancies, maintaining a high level, with over 20,000 positions suitable for Form 5 and Form 6 graduates with no prior experience, including roles in clerical, sales, and service industries.
Due to the continued slowdown in the Individual Visit Scheme and tourist arrivals in Hong Kong, Mr. Cheung noted that related vacancies have decreased but still remain at a certain level. Among the job vacancies in August, 17,000 were in the retail sector and another 17,000 were in the catering industry. However, he also pointed out that unemployment rates are generally lagging indicators, and it is essential to closely monitor future developments and changes in the labor market, and to implement appropriate measures to assist job seekers.