Hong Kong's jobless rate fell to 3.9 percent in August-October,
down 0.2 percentage points over the figure in July-September, and
the lowest level since March-May 1998, according to official
figures released here Monday.
The Census and Statistics Department of Hong Kong said that both
the total labor force and total employment further contracted as
summer workers returned to school.
As total employment showed a more moderate fall, the number of
jobless people decreased significantly to below the 150,000-level
in August-October resulting in the low jobless rate, said the
department, but it noted that underemployment rose slightly from 2.
2 percent to 2.3 percent.
Falls in the jobless rate were mainly observed in the
restaurants, manufacturing, amusement and recreational services,
and real estate sectors. For underemployment, rises were mainly
seen in the construction, sanitary services and communications
sectors.
Supported by robust economic growth and sanguine consumer
sentiment, particularly in the run-up to the Christmas and New Year
holidays, unemployment in the near term may be further improved,
said the department.
Welcoming the drop, Matthew Cheung, secretary for Labor Welfare
of the Hong Kong Special Administrative Region government, said
this reflects the robust state of the economy and the labor
market's buoyancy.
He said the Government will enhance efforts to help jobseekers
with lower skills, less education and difficulty in adjusting to an
increasingly knowledge-based economy.
(Xinhua News Agency November 20, 2007)