Hong Kong unemployment to hit 5% in 2020 amid unrest: report
Published: Nov 29, 2019 01:19 AM

A view of Hong Kong File Photo: VCG

China's Hong Kong Special Administrative Region's (HKSAR) unemployment rate could hit 5 percent in 2020 should the ongoing protests continue, local media reported Thursday, citing internal government estimates.

The figure represents nearly 200,000 people could face unemployment based on calculated labor force figures at 3.97 million, according to on Thursday.

HKSAR government officials are considering fourth-round measures to support local businesses and maintain employment, the report said, citing a government source.

Should the protests continue during the upcoming Christmas holiday, roughly 1,000 restaurants could shutter after the Chinese Lunar New Year holidays as the catering industry has been hit hard over the past months, according to the report.

Data from Hong Kong's Census and Statistics Department recently revealed the unemployment rate jumped to 3.1 percent during the August to October period as most sectors, including consumption and tourism, were affected by the protests.

The adjusted unemployment rate increased by 0.2 percentage points compared with the July to September period.

Overall employment dropped 11,600 from 3,855,400 in July-September to 3,843,800 during the August-October period. Meanwhile, the labor force decreased by around 6,400 from 3,975,700 to 3,969,300 over the same period, according to government statistics.