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Financial News: Hong Kong Jobless Rate Remains Stable

Hong Kong Jobless Rate Remains Stable

06/20/2017 - 07:52:00 (RTTNews)

(RTTNews) - Hong Kong's unemployment rate held steady in the three months ended May, preliminary figures from the Department of Statistics showed Tuesday.

The seasonally adjusted jobless rate came in at 3.2 percent in the March to May period, the same rate as in the February to April period.

The underemployment rate also remained unchanged at 1.2 percent in the two periods, the agency said.

On an unadjusted basis, the number of unemployed people totaled 127,200 in March-May, up from 126,300 in February to April.

At the same time, total employment increased by around 1,200 over the period to 3.82 million in the three months to May.

"The labour market should remain tight in the near term. Nevertheless, the employment outlook for the rest of the year will continue to hinge on the development of various external uncertainties," the Secretary for Labor and Welfare, Mr Stephen Sui, said.

"We will stay vigilant and monitor the situation closely."

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