The Hong Kong Special Administrative Region’s seasonally adjusted unemployment rate ticked up from 3.0 percent in the July-September period to 3.1 percent in the three months from August, according to data released by the SAR government on Monday.

The underemployment rate slipped to 1.1 percent in the August-October period from 1.2 percent in July-September, the Census and Statistics Department said in a statement.

The department said about 800 people were newly unemployed during the three-month period, bringing the total number to 120,700. The number of underemployed persons decreased by around 3,700 to 42,300.

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"The seasonally adjusted unemployment rate stayed low at 3.1 percent in August - October 2024, though edging up by 0.1 percentage point from July - September 2024,” said Secretary for Labour and Welfare Chris Sun Yuk-han.

He said more notable increases in the unemployment rates were seen in the cleaning and similar activities sector; the arts, entertainment and recreation sector; and the transportation sector.

On the other hand, the unemployment rates of the retail sector and the food and beverage service activities sector eased back slightly. The unemployment rate of the construction sector stayed unchanged.

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"The labor market should remain tight in the near term alongside the continued economic growth, though the employment situation may continue to vary across sectors depending on their business performances," Sun added.