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Financial News: Hong Kong Jobless Rate Rises In April

Hong Kong Jobless Rate Rises In April

05/19/2020 - 07:36:00 (RTTNews)

(RTTNews) - Hong Kong's jobless rate rose during the February to April period, data from the Census and Statistics Department showed on Tuesday.

The jobless rate increased to 5.2 percent during February to April from 4.2 percent during January to March period.

The latest unemployment rate was the highest over a decade.

The number of unemployed persons increased to 202,500 during the three months ended April from 162,200 in the preceding period.

At the same time, employment declined by around 62,600 persons to 3.657 million during the February to April period.

"The labor market showed further sharp deterioration as the COVID-19 pandemic continued to weigh on a wide range of economic activities," the Secretary for Labor and Welfare, Law Chi-kwong said. "The labor market will continue to face immense pressure in the near term."

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