Hong Kong's unemployment dropped to a 56-month low of 5.1
percent in the period from February to April, the city's Census and
Statistics Department said on Thursday.
The seasonally adjusted unemployment rate declined from 5.2
percent in the period of January to March to 5.1 percent from
February to April, according to the latest labor-force statistics
from the department.
Falls in the jobless rate were seen mainly in the sectors of
decoration and maintenance, insurance, and retail trade.
However, the same period witnessed the underemployment rate of
the Hong Kong Special Administrative Region rising from 2.3 percent
to 2.4 percent, according to the statistics.
The increases in the underemployment rate were concentrated in
manufacturing, hotels and education services.
Looking forward, the authorities expected a stable job market,
but noted that the near-term outlook depends on the overall
economic growth.
The pace of job creation in the private sector is also key to
cutting down unemployment rate, especially during the summer
months, for absorbing fresh graduates and school leavers, said a
statement by the department.
(Xinhua News Agency May 19, 2006)