HK's jobless rate drops to 6.5pc
Updated at 6.31pm: Hong Kong's unemployment rate fell to a 35-month low of 6.5 per cent, Census and Statistics Department's statistics released on Tuesday showed.
The statistics showed the jobless rate decreased from 6.7 per cent in September-November to 6.5 per cent in October-December.
The number of unemployed people decreased from 236,200 to 227,000 between the two periods. It was the lowest level since November 2001-January 2002.
Total employment increased by around 20,400, from 3,307,600 in September-November 2004 to reach a new high of 3,328,000 in October-December 2004.
The underemployment rate - which measures the number of people working only a few hours a week - also declined. It was down from 3.2 per cent to 3.1 per cent for October-December 2004.
A spokesman said the unemployment rate decreased mainly because more people were employed in wholesaling, restaurants, business services and the hotel sectors.
He said increased consumer spending around the Christmas Holidays had boosted the economy and created job opportunities across many sectors.
'This more than offset an accelerated increase in the labour supply, and the number of unemployed people fell to its lowest level since November 2001-January 2002,' the spokesman explained.
The government predicted the employment rate would keep improving steadily in the first quarter of the year.
'Looking ahead, as business activity is likely to stay buoyant during the run-up to the Lunar New Year, labour demand is expected to be sustained in the near term,' the spokesman said.
