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Unemployment steady at 3.4%

June 16, 2016

The seasonally adjusted unemployment rate stood at 3.4% in the March to May quarter, unchanged from February to April, the Census & Statistics Department said today.

 

The underemployment rate stayed at 1.4%.

 

Non-seasonally adjusted increases in the unemployment rate were mainly seen in the warehousing and support activities for the transportation sector as well as the information and communications sector.

 

Decreases were mainly seen in the decoration, repair and maintenance for buildings sector as well as the professional and business services (excluding cleaning and similar activities) sector.

 

Total employment decreased by 5,700 to 3,800,900 during the period, and the labour force decreased by 5,300 to 3,935,500.

 

There were 134,600 unemployed people and 55,900 underemployed people.

 

Secretary for Labour & Welfare Matthew Cheung said the labour market held broadly stable in overall terms. Total employment increased mildly over a year earlier, reflecting the slow economic growth

 

He said the short-term employment outlook remains clouded by the highly uncertain external environment and slackened local consumption market.

 

"In light of the envisaged boost to labour supply from the entry of fresh graduates and school leavers in the coming months, we will stay vigilant and closely monitor developments," he added.



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