Society

Hong Kong's unemployment rate falls to 5.1%

(Xinhua)
Updated: 2009-12-17 20:13

HONG KONG: Hong Kong's unemployment rate in the three months from September to November fell further to 5.1 percent, according to statistics released Thursday by local statistical authorities.

It was the third consecutive month of falling unemployment rate. The unemployment rate in the three months ended October was 5.2 percent.

The Census and Statistics Department of the Hong Kong Special Administrative Region (HKSAR) government said decreases were mainly observed in sectors such as wholesale; retail, accommodation and food services; and decoration and maintenance.

Total employment increased by around 9,300 to 3,497,600. The number of unemployed persons decreased by around 9,400 to 181 000 in the three month period. The underemployment rate rose by 0.1 percentage points to 2.5 percent.

The HKSAR government said the unemployment situation further improved with the steady recovery of the economy. The unemployment rate of the construction sector, in particular, has dropped for seven consecutive months.

"Total employment reverted to an increase by more than 9,000, indicating that the employment situation has started to recover," said Matthew Cheung, the Secretary for Labor and Welfare of the HKSAR government.

"As business activities are expected to pick up around Christmas and the New Year, labor demand is likely to increase further during the festive season, which should in turn ease the pressure on the unemployment rate in the near term," he added.

Cheung said the employment situation, especially in the construction sector, was expected to further improve with the commencement of projects like the Hong Kong-Zhuhai-Macao Bridge and the expansion of Disneyland.

"Nevertheless, given the uncertainty over the economic outlook, we shall remain vigilant and continue to monitor the labor market situation," he said.