Unemployment rate in Hong Kong for the three months starting from December climbed to 5 percent, from 4.6 percent for the three months starting from November, the Hong Kong Special Administrative Region (HKSAR) government said Tuesday.
Matthew Cheung, Secretary for Labor and Welfare, said he expected the unemployment rate to rise even further as the tough times were not yet over in the labor market.
The latest figure for the unemployment rate, which typically lags behind the trend in economic performance, was the highest in Hong Kong in 34 months.
The Census and Statistics Department said the underemployment rate held stable at 2.1 percent for the periods respectively ended Jan. 31 and Feb. 28.
Sectors such as construction, transport, import and export trades, manufacturing and restaurants, were among the hardest hit.
Total employment declined by around 17,500 from 3,53 million to 3.51 million, while the labor force decreased by around 3,200 from 3.69 million to 3.68 million.
The number of the unemployed increased by around 14,200 from 157,700 to 171,900.
The labor market had been much affected by the economic slowdown and the HKSAR government will do its best to help those affected by the downturn, including funds earmarked for helping those who are trying to find jobs, Cheung said.
(Xinhua News Agency March 17, 2009)