H.K. unemployment rate falls slightly to 4.8%

Asian Economic News, Oct 23, 2000

HONG KONG, Oct. 17 Kyodo

Hong Kong's unemployment rate fell slightly to 4.8% for the July-September period from 4.9% posted in June-August, the Census and Statistics Department said Tuesday.

The underemployment rate in July-September was 2.6%, lower than that of 2.8% in June-August, the department said. In Hong Kong, a person is defined as underemployed when he or she is hired to work less than 35 hours a week.

A government spokesman explained that the declines were due to an improvement in the balance of overall manpower resources.

Backed by sustained economic growth, the total employment grew at a faster pace than the total labor force in July-September year-on-year, the spokesman said.

Hong Kong's working population was estimated at 3.395 million in July-September, up from 3.386 million in June-August.

The number of employed, however, rose to 3.227 million from 3.217 million over the same periods.

The number of unemployed, meanwhile, dropped to 168,000 in July-September from 172,500 in June-August.

Comparing the two three-month periods, decreases in the jobless rate were seen mainly in the restaurant, hotel and real estate sectors, while an increase in unemployment occurred in the decoration and maintenance sector, the department said.