Joblessness in the consumption- and tourism-related sectors, or retail, accommodation and food services sectors, increased to 10.6 percent in March to May. The unemployment rate surpassed the peak of 5.5 percent in the aftermath of the global financial crisis, the Census and Statistics Department reported. The seasonally adjusted unemployment rate increased from 5.2 percent in February to April to 5.9 percent in March to May. The underemployment rate also increased from 3.1 percent in February to April 2020 to 3.5 percent in March to May. In a blog on Sunday, the Financial Secretary Paul Chan predicted that the unemployment rate "will inevitably rise further from the 5.2 percent in April."

Source: The Standard June 16, 2020 08:37 UTC