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Financial News: Hong Kong Jobless Rate Remains Stable

Hong Kong Jobless Rate Remains Stable

08/17/2018 - 06:53:00 (RTTNews)

(RTTNews) - Hong Kong unemployment rate remained stable during May to July, the Census and Statistics Department said Friday.

The jobless rate remained stable at 2.8 percent in May to July period, the same as seen in three months to June. The rate also matched expectations.

At the same time, the underemployment rate rose to 1.1 percent from 1 percent in April to June period.

The labor market should remain tight in the near term riding on the solid growth momentum of the local economy, Secretary for Labour and Welfare, Law Chi-kwong, said.

Nevertheless, as external uncertainties have increased markedly of late, with possible repercussions for export outlook, local economic sentiment and asset markets, we will stay vigilant to their potential impact on the local labour market, Law said.

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