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Financial News: Hong Kong Unemployment Rate Remains Stable

Hong Kong Unemployment Rate Remains Stable

05/19/2017 - 06:03:00 (RTTNews)

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

The seasonally adjusted jobless rate came in at 3.2 percent in the February to April period, the same rate as in the January to March 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 February-April, up from 125,000 in January-March.

At the same time, total employment decreased by around 5,700 over the period to 3.82 million in the three months to April.

"The labor market is expected to remain tight in the near term. Yet, as the external environment is still clouded by various uncertainties, we will stay vigilant and monitor the developments closely," the Secretary for Labor and Welfare, Mr Stephen Sui, said.

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