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HK's unemployment rate rises to 3.4% in Aug-Oct

Nov. 20, 2012 (China Knowledge) - Hong Kong's seasonally-adjusted unemployment rate was 3.4% during the period from August to October, edge up 0.1% than in the three-month period from July to September, according to the latest workforce statistics released by the special administrative region's Census and Statistic Department.

The underemployment rate decreased 0.1 percentage points to 1.6% during the period from August to October.

Total employment increased by around 6,000 to 3.66 million during the period from August to October. The number of unemployment decrease by around 1,900 to 131,000 over the same period.

In the same period, the labor force increased by around 4,100 to 3.8 million.

Matthew Cheung, secretary for Labor and Welfare Bureau, said that the slowdown in economic growth will continue to put pressure on labor market. However, the coming festive periods will support the labor demand.

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