HK jobless rate declines to lowest
HONG Kong’s employment continued to improve from May to July with the jobless rate dipping to 3.2 percent, the lowest level in a decade, according to latest statistics of the Census and Statistics Department released yesterday.
Declines in the jobless rate were recorded in the construction, transport and import-export trades from May to July compared with April to June, according to the department.
Total employment rose by 1,400 to 3,53 million while the labor force surged by 4,500 to nearly 3,66 million.
From May to July the number of jobless people rose by 3,100 to 124,600 while the number of underemployed grew by 2,100 to 69,900.
The department’s data also showed the underemployment rate remained stable at 1.9 percent from April to July.
Declines in the underemployment rate were mainly recorded in the decoration and maintenance, welfare and community services and sanitary services sectors, offsetting rises in the foundation and superstructure construction, and amusement and recreational services sectors.
The total labor force grew mainly due to fresh graduates and school leavers entering the job market, the department said.
With a relatively satisfactory absorption of these newcomers and increased job opportunities in the construction sector, the number of unemployed people only recorded a mild rise.
While welcoming the latest fall in the jobless rate, Secretary for Labor and Welfare Matthew Cheung said the Hong Kong government would do its best to promote employment on all fronts and help those adjusting to the increasingly knowledge-based economy through training, retraining and skill upgrading.