Financial News: Hong Kong Jobless Rate Rises To 3.0%

Hong Kong Jobless Rate Rises To 3.0%

04/18/2024 - 06:09:00 (RTTNews)

(RTTNews) - Hong Kong's unemployment rate increased slightly in the January-March period, though still at a low level, labour force statistics from the Census and Statistics Department showed on Thursday.

The seasonally adjusted unemployment rate came in at 3.0 percent in the January-March period, up from 2.9 percent in the December-February period.

The data showed that the underemployment rate also increased somewhat, from 1.0 percent to 1.1 percent.

On an unadjusted basis, the unemployment rate climbed to 2.9 percent from 2.7 percent.

The number of unemployed persons was 111,700, compared to 102,300 in the December-February period.

"As the economy continues to grow, the labour market will likely remain tight in the near term," Mr. Chris Sun, the secretary for labour and welfare, said.

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