A sign of things to come elsewhere perhaps?
The unemployment rate jumps to its highest in more than nine years, with total employment said to have declined by 2.5% y/y - the largest since the Asian financial crisis.
The government says that labour market conditions have deteriorated sharply as the coronavirus caused severe disruptions to a wide range of economic activities; noting that the jobless rate in consumption and tourism sectors are at the highest in a decade.
Granted, the joblessness in Hong Kong was already on the rise due to the city protests affecting consumption and tourism already, this is still something to be wary about as the economic fallout from the virus outbreak may run deeper as unemployment picks up.
