Hong Kong June To August Jobless Rate Unchanged

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Thursday, Hong Kong's Census and Statistics Department announced that the seasonally adjusted jobless rate stood at 5.4% in the June to August period, remained unchanged from the May to July period. Economists expected the jobless rate to be 5.5%.

Meanwhile, underemployment rate also remained unchanged at 2.4% in the June to August period.

The number of unemployed persons totaled 216, 800 in the June to August period, larger than the 213, 800 persons in the previous three months period. At the same time, the number of underemployed persons decreased to 88,200 from 88,600 in the May to July period.

Total employment decreased to 3.49 million in the June to August period from 3.51 million in the May to July period. The labor force totaled 3.71 million.

Matthew Cheung Kin-chung, the Secretary for Labor and Welfare, said, "The near-term employment outlook will much depend on the pace of job creation in the economy relative to that in the labor supply. As the pace of business growth remains uncertain, employers are generally cautious in hiring new hands at this point in time."

Thursday, Hong Kong's Census and Statistics Department announced that the seasonally adjusted jobless rate stood at 5.4% in the June to August period, remained unchanged from the May to July period. Economists expected the jobless rate to be 5.5%. (Market News Provided by RTTNews)