HK unemployment rate steady at 3.3 pct

The seasonally adjusted unemployment rate stood at 3.3 percent in the September-November quarter, matching that for the August-October period, the Census & Statistics Department of Hong Kong Special Administrative Region ( HKSAR) government announced Tuesday.

The underemployment rate decreased from 1.5 percent to 1.4 percent.

Secretary for Labor & Welfare Matthew Cheung said the labor market remained in a state of full employment in the September- November quarter.

The number of unemployed persons decreased to 127,200, while total employment registered year-on-year growth of 2.4 percent.

The seasonally adjusted unemployment rate has held steady at 3. 3 percent since the second quarter of 2013.

Cheung said the labor market will remain tight during the Christmas and New Year period. The unemployment rate is expected to stay low in the near term.

Increases in the unemployment rate mainly showed in the construction and manufacturing sectors while decreases were more apparent in the import and export trade, and postal and courier activities sectors.

Increases in the underemployment rate were mainly seen in the construction, and food and beverage service activities sectors.