HK jobless rate reaches 5.4%
Hong Kong has reported a 5.4 percent unemployment rate between May and July, up from 3.3% in April to June.
Although it’s a jump, authorities say it’s better than expected, and the labor market is stable. The 5.4 percent rate means the city has 10 thousand more jobless in the three months, taking the total above 210 thousand.
Local government says the figure is better than expected. Most job losses during the period have been in decorating, finance and the entertainment sector. The unemployment rate in the construction industry is the most severe, at 11.1 percent, but it’s lower than the previous month.
Unemployment in the finance sector has also fallen a little to 2.4 percent. Authorities said companies have made great efforts to provide more job opportunities in the past few months.