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Financial News: Hong Kong Jobless Rate Steady In October

Hong Kong Jobless Rate Steady In October

11/17/2020 - 04:29:00 (RTTNews)

(RTTNews) - Hong Kong's jobless rate remained stable during August to October period, data from the Census and Statistics Department showed on Tuesday.

The jobless rate came in at 6.4 percent in the August to October period, the same as seen during July to September period.

The underemployment rate also remained unchanged at 3.8 percent in August-October.

The number of unemployed persons decreased by 2,000 to 257,800 during August-October from 259,800 in the preceding period.

Employment rose by 2,900 to 3.627 million in the three months ended October from 3.62 million in the previous months.

"Labor market conditions remained difficult, but showed further signs of stabilization as the local epidemic situation stayed contained during that period," the Secretary for Labor and Welfare Law Chi-kwong said.

"While the overall economic situation saw some improvement in recent months, hiring sentiments among employers would probably remain cautious, especially when the economic outlook is still clouded by the evolving pandemic situation," Law said.

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