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Financial News: Hong Kong Jobless Rate Remains Stable As Expected

Hong Kong Jobless Rate Remains Stable As Expected

07/19/2018 - 05:58:00 (RTTNews)

(RTTNews) - Hong Kong's unemployment rate held steady in the three months ended June, the Census and Statistics Department reported Thursday.

The unemployment rate came in at 2.8 percent in the April to June period, the same rate as in three months to May.

The underemployment rate also remained unchanged at 1.0 percent in the two periods.

On an unadjusted basis, the number of unemployed people totaled 112,400 in April to June, up from 112,300 in March to May.

Total employment increased by around 4,900 to 3.87 million in the April to June period.

"In the near term, the overall labor market is expected to remain tight on the back of a vibrant local economy," the Secretary for Labor and Welfare, Dr Law Chi-kwong, said.

"Yet, we will stay vigilant to the evolving external uncertainties and monitor their potential impact on the local labor market closely."

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