Hongkongers earned less in the second quarter of this year while the number of unemployed people jumped by 3,000 to more than 114,000, according to an official survey.
The “Quarterly Report on General Household Survey” published on Thursday showed the median monthly income for residents fell by HK$300 (US$38) from HK$21,400 in the first quarter to HK$21,100 in the second.
The median monthly income for about 2.8 million households also dropped by HK$700 during the same period, declining from HK$30,000 to HK$29,300, the Census and Statistics Department said. These figures excluded foreign domestic helpers.
On the same day, UK-based consultancy WTW released a study that said nearly 40 per cent of Hong Kong companies had a smaller payroll budget for the financial year ending in March than they did last year, compared with 21 per cent a year ago.
A May survey by the Hong Kong Small and Medium Enterprises Association and Junior Chamber International Hong Kong showed that 70 per cent of such companies reported business had fallen below pre-pandemic levels.
The official statistics released on Thursday showed that while the labour force grew by 8,900 people to 3,474,400 over the same period, 114,700 individuals were unemployed in the second quarter, an increase of 3,000 from the previous three months.
The construction, retail, accommodation and food services sectors were the hardest hit, with their unemployment rate significantly exceeding the average rate of 3 per cent.
The number of underemployed residents also rose by 4,500, reaching 44,500 during the same period.
Hong Kong has suffered a wave of closures of shops, restaurants and cinemas amid a sluggish economy.
Last week, the Hong Kong Monetary Authority set up a new task force to look into small and medium companies that were having trouble with banks over their loan repayments.
Chief Executive John Lee Ka-chiu also said it was normal that new businesses would replace old ones and the economy was expected to improve next year.
