Hong Kong Jobless Rate Falls To 3.8%

(RTTNews) - Hong Kong's unemployment rate decreased slightly in the December to February period, labor force statistics from the Census and Statistics Department showed on Wednesday.

The seasonally adjusted unemployment rate came in at 3.8 percent for December to February, down from 3.9 percent in the November-January period.

The decrease in jobless rate was more evident in the retail sector, accommodation services sector, and foundation and superstructure sector.

Data showed that the underemployment rate held steady at 1.7 percent.

The unadjusted unemployment rate also dropped to 3.5 percent from 3.6 percent. There were 134,700 unemployed people compared to 138,400 in the November-January period.  A year ago, it was 111,700.

"Looking ahead, the sustained growth momentum of the Hong Kong economy should continue to support the overall labor market, though employment situations in some local sectors may still face challenges due to their business performances," Chris Sun, the Secretary for Labour and Welfare, said.

"The government will stay vigilant to the development of various external uncertainties, closely monitoring for any implication on corporate hiring sentiment in relevant sectors."