Hong Kong’s Unemployment Rate Unchanged at 3.3% in August

In August of 2013, seasonally adjusted jobless rate remained steady at 3.3 percent for the third consecutive month. Total employment grew further to another record high and was able to absorb about half of the additional labour supply.
Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com 9/17/2013 10:14:36 AM
The number of unemployed people (not seasonally adjusted) increased by around 1800 to 135800 in June - August 2013 from May-July, while the number of underemployed persons remained steady at 58400. 

Increases in the unemployment rate were mainly observed in the education, and warehousing and support activities for transportation sectors, while decreases were mainly seen in the construction and retail sectors.

Total employment increased by around 1700 from 3749 500 in May - July 2013 to 3751200 in June - August 2013. 

On the short-term outlook, the Secretary for Labor and Welfare, Mr Matthew Cheung Kin-chung, said “The Hong Kong economy will likely see further moderate growth. With the students on summer jobs gradually returning to school as well as the largely positive hiring sentiment in the corporate sector, the labour market is expected to remain stable in the near term. However, external uncertainties, in particular the pace of the US monetary policy adjustment down the road and its ensuing impact on global fund flows direction and regional economies, remain a cause of concern.”

Hong Kong’s Unemployment Rate Unchanged at 3.3% in August