Hong Kong Oct-Dec Jobless Rate Remains Stable As Expected

(RTTNews) - Hong Kong's unemployment rate remained unchanged as expected in the October to December period, preliminary figures from the Census and Statistics Department showed Monday.

The unemployment rate stood at a seasonally adjusted 3.3 percent in the October to December period, the same rate as seen in the September to November period. That was in line with economists' expectations.

The number of unemployed persons decreased to an unadjusted 122,100 in the October to December period from 126,400 in the September to November quarter. Employment increased by around 17,800 from the previous quarter.

"As labour demand will likely stay resilient during the New Year festive period, the unemployment rate can be expected to remain at a relatively low level in the near term, " Secretary for Labor and Welfare Matthew Cheung Kin-chung said.

"Nevertheless, in view of the still highly uncertain external environment and its potential repercussions on the local economy, we need to stay vigilant and monitor development in the labour market closely, "