Hong Kong's unemployment rate is the lowest in almost a decade, thanks to an economy that has enjoyed a three-year expansion averaging almost 7 per cent a year.
The latest employment data, released on August20 by the Census and Statistics Department, shows the seasonally adjusted unemployment rate declined from 4.2 per cent in April to June this year to 4.1 per cent (provisional figure) in May to July - the lowest level seen since mid-1998.
The banking and finance sector has been a standout sectoral performer in the overall employment mix, while local manufacturing jobs have been on the decline.
A reliable measure of the demand and supply equation across all sectors of the employment market is the comparative wage rate in each sector.
Data shows how the banking and finance sector payroll growth outstripped growth in pay in other sectors as employers raised salaries to secure the skills they required.
The Census and Statistics Department publishes a series titled: 'Nominal Indices of Payroll Per Person Engaged by Industry Sector', which measures the growth of payroll per person based on an index figure of 100 as at the first quarter of 1999.