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Financial News: Hong Kong Unemployment Rate Remains Stable

Hong Kong Unemployment Rate Remains Stable

10/19/2017 - 05:30:00 (RTTNews)

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

The unemployment rate came in at 3.1 percent in the July to September period, the same rate as seen in three months to August.

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

On an unadjusted basis, the number of unemployed people totaled 128,000 in July to September, down from 130,000 in June to August.

Total employment decreased by around 3,800 to 3.83 million in the July to September period.

"Barring any abrupt downturns in the external environment, labor market conditions will likely remain favorable in the near term," the Secretary for Lab our and Welfare, Dr Law Chi-kwong, said.

"Yet, we will stay vigilant and closely monitor the relevant developments."

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