Hong Kong’s unemployment rate declined unexpectedly in April after remaining steady for eight successive months, provisional figures from the Census and Statistics Department revealed Tuesday.
The jobless rate decreased to a seasonally adjusted 3.2 percent in the February to April period from 3.3 percent in the January to March period, while economists expected it to remain unchanged.
Since the May to July period of 2014, the unemployment rate was holding at 3.3 percent.
Citing unadjusted data, the agency said joblessness fell mainly in information and communications, retail and professional and business services sectors.
The number of unemployed slightly rose to 127,500 in the three months to April from 127,300 in the previous three months period.
Employment declined by about 8,800 persons to 3.792 million in the February to April period. The labor force also decreased by about 8,600 persons to 3.928 million.
“The near-term employment outlook will continue to hinge on the overall economic growth, in particular how domestic demand and inbound tourism would fare down the road amidst the various uncertainties on the external front,” Labor and Welfare Secretary Matthew Cheung said.
“We will stay vigilant and closely monitor development in the labor market. The Labor Department would also continue to hold large-scale job fairs to facilitate easy access to employment information,” he added.
The material has been provided by InstaForex Company – www.instaforex.com