RTTNews - Hong Kong's seasonally adjusted jobless rate edged up to 5.4% in the April to June period from 5.3% in the preceding three months, the Census and Statistics Department said Monday. The rate came in line economists' estimates.
During the period, the number of unemployed persons, on an unadjusted basis, increased by around 3,300 persons to 203,000 from the three months ended May. However, the number of underemployed persons fell by 300 to 84,900.
At the same time, the number of employed persons decreased by 8,700 to 3.51 million. Over the same period, the labor force decreased by around 5,500 persons to 3.71 million.
The Secretary for Labor and Welfare, Matthew Cheung Kin-chung, noted that the rise in the unemployment rate began to show signs of tapering off. Looking ahead, however, the secretary said the unemployment rate could face upward pressure in the short term.
In June 2009, the report said the Labor Department netted 45,983 vacancies from the private sector, down 11.3% over the same period last year, but up 13.5% from May.
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