Economy

HK's jobless rate falls to 4% on economic growth

(Xinhua)
Updated: 2011-01-19 18:00

HONG KONG - Hong Kong's seasonally adjusted jobless rate fell to 4 percent in October to December from 4.1 percent in September to November, helped by the sustained economic growth and job gains, the Census and Statistics Department of Hong Kong government announced on Tuesday.

The decreases in the unemployment rate were mainly observed in the construction, education, repair, laundry, domestic and other personal-service activities sectors, the department said.

The job situation remains broadly stable, said Matthew Cheung, Secretary for Labor and Welfare.

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"With the seasonal upsurge in business activities in the run-up to the Lunar New Year, there will be continuous demand for labor," Cheung said.

The employers generally maintain a positive attitude towards business activity and staff recruitment in the next few months, Cheung said, citing a recent survey data. Cheung expected the unemployment rate will remain at low levels.

"The external environment, in particular the weak performance of the advanced economies and the sovereign debt crisis in the Euro-zone remain a cause for concern. We will continue to monitor developments closely," Cheung added.

The underemployment rate declined to 1.8 percent from 1.9 percent in the same period, mainly in the decoration, repair and maintenance for buildings, cleaning and similar activities, and transportation sectors.