Hong Kong unemployment rate expected to hit 2003 levels at up to 5 per cent under Sars, as Wuhan coronavirus deals new blow to protest-hit economy and tourism

The unfolding crisis from the Wuhan coronavirus outbreak has dealt yet another blow to Hong Kong’s fragile economy, with authorities warning of a higher unemployment rate comparable to that of 2003 under the pall of Sars.Secretary for Labour and Welfare Law Chi-kwong said on Tuesday that the unemployment rate would hit 4 to 5 per cent this year from the existing 3.3 per cent, with more shops expected to go out of business after Lunar New Year.He said his estimate was similar to that of 2003…