Hong Kong Jobless Rate Falls to 4.4%

2006-12-20 11:49:24 CRIENGLISH.com

By LIANG TAO, CRI Hong Kong Correspondent

Hong Kong Census & Statistics Department says the seasonally adjusted unemployment rate fell to 4.4 percent in the September-November period, down from 4.5 percent in August-October. The figure was the lowest since 2001.

Falls in the jobless rate were mainly seen in the wholesale and retail trades, manufacturing and restaurants sectors.

The underemployment rate rose from 2.4 percent to 2.5 percent. Rises were mainly found in the manufacturing, education services, and decoration and maintenance sectors.

Total employment rose by 12,000 workers to an all-time high of 3.5 million, while the labor force grew to 3.7 million.

The department said the unemployment situation continued to improve on the back of robust economic performance.

The near-term outlook will mainly hinge on overall business conditions, and, in particular, job creation in the corporate sector, during the Christmas-New Year period.

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