HONG KONG - HONG Kong's jobless rate stayed at a three-year low of 5.3 per cent in the three months ending May, the government said on Tuesday, after eight months of worsening figures.
The number of unemployed people increased by around 2,800 to 199,700 over the period, while the workforce increased by around 15,700 to an all-time high of 3,714,700, according to the Central Statistics Department's latest figures.
Secretary for Labour Matthew Cheung welcomed the signs of stabilisation, but said it was still a difficult time for graduates and school leavers, made even worse by uncertainty over swine flu.
'The government's several rounds of relief measures are actually beginning to take effect,' he said in a statement.
Hong Kong fell into recession in the third quarter of 2008 and in May the government slashed its growth forecast for this year, saying the economy would contract 5.5-6.5 per cent in 2009, from a previous forecast of 2.0-3.0 per cent. -- AFP
The number of unemployed people increased by around 2,800 to 199,700 over the period, while the workforce increased by around 15,700 to an all-time high of 3,714,700, according to the Central Statistics Department's latest figures.
Secretary for Labour Matthew Cheung welcomed the signs of stabilisation, but said it was still a difficult time for graduates and school leavers, made even worse by uncertainty over swine flu.
'The government's several rounds of relief measures are actually beginning to take effect,' he said in a statement.
Hong Kong fell into recession in the third quarter of 2008 and in May the government slashed its growth forecast for this year, saying the economy would contract 5.5-6.5 per cent in 2009, from a previous forecast of 2.0-3.0 per cent. -- AFP