The unemployment rate declined by 3.4% between November and January, down from 3.5% between October and December, the Census Statistics Department (C&SD) reported.
The underemployment rate likewise decreased to 1.4% over the same period, from 1.5%.
"The unemployment and underemployment situation continued to improve. The seasonally adjusted unemployment rate declined by 0.1 percentage point from October - December 2022 to 3.4% in November 2022 - January 2023,” Secretary for Labour and Welfare, Chris Sun said.
“The underemployment rate also declined by 0.1 percentage point to 1.4%. The number of unemployed persons decreased by 7,600 to 118,400, and that of the underemployed persons by 3,200 to 52,100."