Nation’s jobless rate hits a 16-year high

Hong Kong’s unemployment rate rose in January to the highest level in more than 16 years as social distancing and travel restrictions from the pandemic continue to damage local businesses and destroy jobs.

The jobless rate rose to 7 percent in the November-toJanuary period from 6.6 percent previously. The new rate is the highest since April 2004, according to a government report Thursday.

Hong Kong has struggled under an extended recession over the past two years amid social unrest and the global pandemic, with the economy shrinking a record 6.1 percent in 2020, according to advance estimates.