Jobless rate steady at 3.4pc in November

Hong Kong’s unemployment rate in November held steady at 3.4 per cent – unchanged from October’s level, the Census and Statistics Department said on Tuesday.

The underemployment rate, which measures the number of people who cannot find 35 hours of work a week, dropped to 1.4 per cent last month from 1.5 per cent in October.

Most of the jobs created in November were found in the wholesale and retail sectors, while the largest job losses were in finance and insurance, and the import and export trade sectors, the department said.

The unemployment rate has remained relatively steady in recent months, increasing to 3.4 per cent at the end of October from 3.3 per cent in September.

Secretary for Labour and Welfare Matthew Cheung Kin-chung said the employment situation was likely to remain stable for the time being.

He said the run-up to the Christmas and New Year holidays, when trade was more buoyant, would boost labour demand.