Unemployment Rate Reaches 5.8 Percent in HK

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Last updated at: (Beijing Time) Monday, December 17, 2001

Unemployment Rate Reaches 5.8 Percent in HK

The seasonally adjusted unemployment rate in Hong Kong for the September-November period was 5.8 percent, higher than the 5.5 percent in August-October, the Hong Kong Census and Statistics Department announced Monday.

The underemployment rate in the same period was 2.9 percent, also higher than that of 2.6 percent in August-October 2001, according to statistics released by the department.

The size of the total labor force fell slightly, from 3.439 million in August-October 2001 to 3.433 million in September-November 2001, while the number of employed persons had a larger decrease, from 3.244 million to 3.228 million.

A government spokesman said that the unemployment rate went up in September-November 2001, as overall employment contracted amidst the downturn in economic activity and increased incidents of corporate downsizing and lay-offs.

Hong Kong Jobless Rate Rises over Past Three Months