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Financial News: Hong Kong Unemployment Rate Unchanged At 3.3%

Hong Kong Unemployment Rate Unchanged At 3.3%

02/20/2017 - 03:43:00 (RTTNews)

(RTTNews) - Hong Kong's unemployment rate remained unchanged for a second time in the three months to January, figures from the Census and Statistics Department showed Monday.

The seasonally adjusted unemployment rate was 3.3 percent, unchanged from the December quarter. In the three months to November, the rate had eased to this level from 3.4 percent.

On an unadjusted basis, the number of unemployed persons decreased by around 2,800 to 119,200 in November - January.

In January, decreases in the unadjusted unemployment rate were mainly seen in the food and beverage service activities sector and the repair, laundry, domestic and other personal service activities sector.

The three-monthly underemployment rate inched down by 0.1 percentage point to 1.3 percent after remaining unchanged for ten consecutive periods, the agency noted.

"While the labor market will likely remain generally tight in the near term, the employment outlook still hinges on the play-out of various external uncertainties surrounding the local economy down the road," the Secretary for Labor and Welfare Stephen Sui said.

"With the private sector enterprises normally reviewing their annual staffing position after the Lunar New Year, we will stay vigilant and monitor developments closely."

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