HK unemployment rate up to 3.5% in Aug-Oct

Nov. 19, 2008 (China Knowledge) - Hong Kong's seasonally adjusted unemployment rate was 3.5% during the Aug.-Oct. period, 0.1 percentages points higher than 3.4% in the Jul.-Sep. period, according to the latest labor force statistics released by the SAR's Census and Statistics Department.

The unemployment rate (not seasonally adjusted) in the Aug.-Oct. period saw increases in the retail trade, transport, import/export trades, hotels and storage sectors.

The figures also showed the underemployment rate fell from 1.8% to 1.7%, while decline were observed in the construction, and amusement and recreational services sectors.

From August to October, total employment rose to 3,546,700, an increase of 3,600 from 3,543,100 in the Jul.-Sep. period.

In the same period, the labor force increased slightly by 1,300 to 3,678,500 from 3,677,200.

Meanwhile, the unemployed population (not seasonally adjusted) decreased by 2,200 to 131,800 from 134,000 in Jul-Sep.