|
BIZCHINA / Macro Economy |
HK March-May unemployment rate 4.3 percentBy ()
Updated: 2007-06-22 16:02 The unemployment rate in Hong Kong during the three months to May stood at 4.3 percent, unchanged from the February-April level, the government said. It also said that the underemployment rate in March-May period rose to 2. 2 percent from 2.1 percent in the February-April period. The government noted a reduction in the unemployment rate in the communications, sanitary services and financing sectors, while increases were seen in the decoration and maintenance, retail and restaurants sectors. It said increases in the underemployment rates were seen in the construction, amusement and recreational services sectors. Total employment increased by about 14,000 to 3,476,000 in March-May, the government said. Over the same period, the labor force rose by 13,300 to a high of 3,631, 600, the government said. The number of unemployed persons fell by 800 to 155, 500 in March-May, while the number of underemployed persons rose by 2,000 to 79,600. A government spokesman said that despite a further expansion in the labor supply, the number of unemployed persons fell slightly in the March-May period. "This was mainly due to the continued increase in total employment, in tandem with sustained economic growth," he said. He noted that the unemployment rate is the lowest in nine years. Looking ahead, he said growth in the labor supply is expected to accelerate in the next few months when more fresh graduates enter the labour market. "Whether the unemployment rate will... fall hinges on the number of jobs created to absorb these first-time job-seekers," he said. (US$1 = HK$7.8) (For more biz stories, please visit Industry Updates)
|
|