Author Archives: hksar gov

     According to the latest labour force statistics (i.e. provisional figures for April – June 2022) released today (July 19) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate decreased from 5.1% in March – May 2022 to 4.7% in April – June 2022. The underemployment rate also decreased from 3.5% in March – May 2022 to 3.0% in April – June 2022.
      
     Comparing April – June 2022 with March – May 2022, both the unemployment rate (not seasonally adjusted) and underemployment rate decreased across almost all major economic sectors, with more distinct decreases observed in the construction sector; retail, accommodation and food services sector; and arts, entertainment and recreation sector.  
      
     Total employment increased by around 17 800 from 3 553 800 in March – May 2022 to 3 571 600 in April – June 2022. Over the same period, the labour force also increased by around 5 000 from 3 745 200 to 3 750 200.
      
     The number of unemployed persons (not seasonally adjusted) decreased by around 12 800 from 191 400 in March – May 2022 to 178 600 in April – June 2022. Over the same period, the number of underemployed persons also decreased by around 18 800 from 130 400 to 111 600.
                 
Commentary
      
     Commenting on the latest unemployment figures, the Secretary for Labour and Welfare, Mr Chris Sun said, “The labour market improved in April – June 2022 amid the moderating local epidemic situation in general and the gradual relaxation of social distancing measures. The Consumption Voucher Scheme and the 2022 Employment Support Scheme have also helped. The seasonally adjusted unemployment rate fell by 0.4 percentage point from 5.1% in March – May 2022 to 4.7% in April – June 2022. The underemployment rate also declined by 0.5 percentage point to 3.0%. Total employment turned to an increase of 17 800 to 3 571 600. The number of unemployed persons fell further by 12 800 to 178 600.”
      
     Analysed by sector, the unemployment rate of the consumption- and tourism-related sectors (viz. retail, accommodation and food services sectors) combined fell visibly by 1.4 percentage points from the preceding three-month period to 7.4% in April – June 2022. Among these sectors, the unemployment rate for food and beverage service activities fell sharply by 2.4 percentage points to 8.6%, and that of the retail sector declined by 0.8 percentage point to 6.6%. The unemployment rates of many other sectors also declined, more notably the construction sector; and the arts, entertainment and recreation sector.
      
     Looking ahead, Mr Sun said, “As domestic economic activities continue to revive, the labour market is likely to improve further in the near term, but the extent of improvement would depend on the local epidemic situation as well as the global and local financial conditions. The various measures rolled out by the Government would continue to provide support for the recovery of the local economy. I call upon the community to continue to work together with the Government to keep the epidemic under control.”
      
     On large-scale job fairs, the Labour Department (LD) will organise the Creating New Opportunities Job Fair at the Southorn Stadium on August 4 and 5, 2022. Over 40 employers will participate, offering lots of vacancies from various industries. In April – June 2022, LD recorded a monthly average of 90 621 vacancies from the private sector, representing a year-on-year increase of 10.0%, and an increase of 19.8% over the average figure in March – May 2022. Job-seekers may make use of the LD’s online platforms such as the Interactive Employment Service website for obtaining such vacancy information.
                 
Further information
      
     The unemployment and underemployment statistics were compiled from the findings of the continuous General Household Survey.
      
     In the survey, the definitions used in measuring unemployment and underemployment follow closely those recommended by the International Labour Organization. The employed population covers all employers, self-employed persons, employees (including full-time, part-time, casual workers, etc) and unpaid family workers. Unemployed persons by industry (or occupation) are classified according to their previous industry (or occupation).
      
     The survey for April – June 2022 covered a sample of some 25 000 households or 69 000 persons, selected in accordance with a scientifically designed sampling scheme to represent the population of Hong Kong. Labour force statistics compiled from this sample represented the situation in the moving three-month period of April to June 2022.
      
     Data on labour force characteristics were obtained from the survey by interviewing each member aged 15 or over in the sampled households.
      
     Statistical tables on the latest labour force statistics can be downloaded at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=D5250021&scode=200). More detailed analysis of the labour force characteristics is given in the “Quarterly Report on General Household Survey” which is published four times a year. The latest issue of the publication contains statistics for the quarter January – March 2022 while the next issue covering the quarter April – June 2022 will be available by end August 2022. Users can also download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1050001&scode=200).
      
     For enquiries about labour force statistics, please contact the General Household Survey Section (3) of the C&SD (Tel: 2887 5508 or email: ghs@censtatd.gov.hk). read more

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) announced today (July 19) the composite interest rate at the end of June 2022 (Note 1).

     The composite interest rate, which is a measure of the average cost of funds of banks, increased by 14 basis points to 0.47 per cent at the end of June 2022, from 0.33 per cent at the end of May 2022 (see Chart 1 in the Annex). The increase in composite interest rate reflected increases in the weighted funding cost for deposits and interbank funds during the month (see Chart 2 in the Annex) (Note 2).

     The historical data of the composite interest rate from the end of the fourth quarter of 2003 to the end of June 2022 are available in the Monthly Statistical Bulletin on the HKMA website (www.hkma.gov.hk).

Note 1: The composite interest rate is a weighted average interest rate of all Hong Kong dollar interest-rate-sensitive liabilities, which include deposits from customers, amounts due to banks, negotiable certificates of deposit and other debt instruments, and all other liabilities that do not involve any formal payment of interest but the values of which are sensitive to interest rate movements (such as Hong Kong dollar non-interest bearing demand deposits) on the books of banks. Data from retail banks, which account for about 90 per cent of the total customers’ deposits in the banking sector, are used in the calculation. It should be noted that the composite interest rate represents only average interest expenses. There are various other costs involved in the making of a loan, such as operating costs (e.g. staff and rental expenses), credit cost and hedging cost, which are not covered by the composite interest rate.

Note 2: Since June 2019, the composite interest rate and weighted deposit rate have been calculated based on the new local “Interest rate risk in the banking book” (IRRBB) framework. As such, these figures are not strictly comparable with those of previous months. read more

     The Government announced today (July 19) that in order to fight the coronavirus epidemic, the Environmental Protection Department and the Drainage Services Department have been collecting sewage samples for virus testing in all districts, and had detected positive results in some areas, indicating that there may be hidden cases in the premises within these areas.
 
Rapid test
 
     As regards positive sewage testing results with relatively high viral loads in the following areas, the respective District Offices will commence distributing about 295 000 sets of the COVID-19 rapid antigen test (RAT) kits to residents, cleaning workers and property management staff working in the following areas for them to take the test on their own, in order to help identify infected persons:
 

• Central & Western District – Residential premises around Queen’s Road West and Belcher’s Street (See Annex)
• Islands District – Yu Tai Court and Caribbean Coast (Monterey Cove, Albany Cove, Carmel Cove, Crystal Cove and La Mer)
• Kwun Tong District – Fu Wah Court, Hiu Kwong Court, Hiu Ming Court, Hiu Wah Building, Kai Tin Tower, Hong Ying Court, Hong Tin Court, Sceneway Garden, Lei On Court, Hong Pak Court, Hong Shui Court, Hong Nga Court, Hong Wah Court and Hong Yat Court
• Yuen Long District – Tan Kwai Garden, Tan Kwai Villa, Trafalgar Gardens, Osmanthus Gardens, Arnold Gardens, Tin Fu Court, Central Park Towers, Central Park Towers Phase 2 and Tin Oi Court

 
     Members of the public may refer to (www.coronavirus.gov.hk/rat/eng/rat.html) for enquiries relating to the use of the RAT kits.
 
     When using an RAT kit, please pay attention to and follow the instructions from the manufacturer to perform the test and read the result properly. It is advisable to record the displayed result by taking a photo immediately after reading. Users should wash their hands before and after performing the tests, and avoid placing non-essential items within the specimen collection area. After completing the test, wrap and seal all components of the test kit carefully and dispose of them properly. If the household environment is contaminated during the specimen collecting process, disinfection should be conducted with 1 in 49 diluted bleach solution or 70 per cent alcohol.
 
     People who obtained a positive result through an RAT for the first time can report via the online platform “Declaration System for individuals tested positive for COVID-19 using Rapid Antigen Test” (www.chp.gov.hk/ratp). If individuals encounter difficulties using the online platform, they can call the automated system at 183 6119 to register their identification document and telephone number. The Centre for Health Protection of the Department of Health will contact the relevant person later to finish the report procedure. read more

     The Secretary for Education, Dr Choi Yuk-lin, visited Hok Yau Club’s Student Guidance Centre today (July 19), a day before the release of the Hong Kong Diploma of Secondary Education (HKDSE) Examination results, to learn about its counselling services and to show support for candidates who receive such services.
 
     Accompanied by Chairman of Hok Yau Club and Legislative Council Member Dr Simon Hoey Lee, Dr Choi toured the Student Guidance Centre and was briefed on its facilities and services, including the further studies and career information centre, the counselling hotline and information services covering publications on examination preparation and further studies.
 
     Dr Choi thanked Hok Yau Club for providing guidance services since 1982, helping generations of candidates of the Hong Kong Certificate of Education Examination, the Hong Kong Advanced Level Examination and the HKDSE Examination. This year, in addition to setting up 38 telephone counselling hotlines, Hok Yau Club has enhanced its online counselling services by adding a visual meeting and live chat platform to cater for the social habits of students living in the new normal. While joining a visual meeting, Dr Choi took the opportunity to thank the counsellors and greet the candidates online with best wishes and encouragement.
 
     Dr Choi said, “Candidates of the current-year HKDSE Examination have faced many challenges, with their three-year senior secondary school life affected by the epidemic. To this end, the Government has joined forces with schools and voluntary organisations to support them and strengthen measures to ensure the smooth conduct of the HKDSE Examination and completion of their secondary education.
 
     “Students may inevitably be anxious before and after the release of examination results. I hope that all of them can relax, in view of the abundant opportunities for further studies and development. If needed, they may talk to their teachers or voluntary organisations. This not only reduces the stress, but also helps them map out their future in a calm manner.”
 
     A total of around 50 000 candidates entered the HKDSE Examination this year. Various institutions have prepared different types of courses providing around 62 000 places in total, allowing students to select a suitable pathway based on their abilities and interests.
 
     Dr Choi encouraged candidates to come up with their own development blueprint, given the diversified study pathways with multiple entry and exit points. She said she was confident that with determination and perseverance they would succeed in whichever pathway they choose.

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     Launched by the Hong Kong Film Archive (HKFA) of the Leisure and Cultural Services Department, the “Movies to GO” series will present a free screening of superstar Bruce Lee’s classic film “The Orphan” (1960), made before he went to the US, at the 1/F Theatre of the Hong Kong Heritage Museum (HKHM) at noon on July 30 to tie in the “A Man Beyond the Ordinary: Bruce Lee” exhibition at the HKHM. The public are invited to attend.

     Ng Cho-fan wrote and produced “The Orphan”, and starred in the film as the head of an orphanage, with Bruce Lee featured as his estranged son. The film is in Cantonese and with Chinese and English subtitles.

     A seminar will be held after the screening. Speakers will include actor Stephen Au and museum expert advisers and veteran film researchers Shu Kei and Sam Ho. The seminar will be conducted in Cantonese. Attendees of the seminar on-site will have opportunities to receive souvenirs of the “A Man Beyond the Ordinary: Bruce Lee” exhibition on a first-come, first-served basis while stocks last. The seminar will be featured in a live webcast via the HKHM Youtube channel and the HKFA Youtube channel on the event day at around 2.25pm.

     Admission to the screening and seminar is free. Audiences should arrive at 1/F Theatre, HKHM at the respective time. Limited space will be available on a first-come, first-served basis. For programme enquiries, please call 2739 2139 or 2180 8188, or visit www.filmarchive.gov.hk/en_US/web/hkfa/pe-event-2022-hkhmhkfa.html.

     In addition, the HKHM will show three classic films of Bruce Lee, namely “The Way of the Dragon” (1972), “The Big Boss” (1971) and “Fist of Fury” (1972), at the 1/F Theatre on July 20 and 23, allowing audience to relive the martial art superstar’s greatest works. For more details, please visit www.heritagemuseum.gov.hk/en_US/web/hm/eventsactivities/programmes/brucelee22.html.

     In order to comply with the requirements stipulated in the Prevention and Control of Disease (Requirements and Directions) (Business and Premises) Regulation (Cap. 599F) and relevant requirements of administrative instructions, visitors are required to scan the “LeaveHomeSafe” QR code before being allowed to enter the venues managed by the LCSD for necessary contact tracing if a confirmed case is found. In accordance with the Prevention and Control of Disease (Vaccine Pass) Regulation (Cap. 599L) and relevant requirements of administrative instructions, all persons entering indoor venues under the management of the LCSD must comply with the requirement of the Vaccine Pass.

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