(Bloomberg) -- Hong Kong's unemployment rate rose to the highest level since 2017 in November, as months of protests continued to damage the Asian financial hub's economy.
The overall unemployment rate rose to 3.2% as of the end of November, the Hong Kong government said in a release Tuesday. That's in line with estimates in a Bloomberg survey of economists.
The jobless rate in the consumption and tourism-related sector, which includes retail, accommodations and food services, rose to a three-year high of 5.2% in the September-to-November period.
The food and beverage sector, meanwhile, saw joblessness rise to 6.2%, the highest in more than eight years.
Hong Kong's typically resilient labor market has shown growing signs of strain as the city's shopping malls, hotels and restaurants have been hit by a sharp slowdown in tourism and reduced spending. Retail sales by value contracted by a record amount in October.
The intensity of the unrest appeared to ebb in November after pro-democratic candidates swept local elections.
To contact the reporter on this story: Eric Lam in Hong Kong at elam87@bloomberg.net
To contact the editors responsible for this story: Jeffrey Black at jblack25@bloomberg.net, Karen Leigh
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