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Financial News: Hong Kong Jobless Rate Remains Stable

Hong Kong Jobless Rate Remains Stable

09/18/2017 - 05:54:00 (RTTNews)

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

The unemployment rate came in at 3.1 percent in three months to August, the same rate as seen in three months to July. Meanwhile, the rate was forecast to rise to 3.2 percent.

The underemployment rate also remained unchanged at 1.1 percent in the two periods.

On an unadjusted basis, the number of unemployed people totaled 130,000 in June to August, up from 128,2000 in May to July period.

Total employment increased by around 7,700 to 3.84 million in the June to August period.

"While overall labor market conditions are expected to remain tight in the near term, we will stay vigilant to the potential impact of various external uncertainties," the Secretary for Labor and Welfare, Dr. Law Chi-kwong, said.

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