Hong Kong
City Digest
457 words
18 May 2012
scmp.com
SCMCOM
English
(c) 2012 scmp.com. All rights reserved.
City's unemployment rate drops to 3.3 per cent
The unemployment rate fell from 3.4 per cent in the first quarter to 3.3 per
cent in the three months to April 30. Labour minister Matthew Cheung Kinchung said hiring sentiment appeared to have revived, but the labour
market faced a challenge in summer when about 100,000 pupils would
graduate from high school destined for jobs or further studies.
Subsidies to fight labour shortage in construction
Gammon Construction is financing contractors to train new blood in light of
a labour shortage that could lead to a shortfall of 28,000 workers by 2020.
The trainees will be paid HK$11,000 a month, HK$3,000 of which will
come from Gammon, HK$3,000 from the contractor and the rest from the
government.
Man faces court charged with making bomb hoax
A 37-year-old man will appear in Eastern Court today charged with making
a hoax bomb threat in Central MTR station. Bomb disposal and
counterterrorism officers were called after a man forced his way into the
driver's cabin of a train at about 1.45pm on Wednesday.
Man charged with indecent assault on girl, 15
A two-week manhunt ended with the arrest of a 27-year-old man
suspected to have followed a 15-year-old schoolgirl into a lift on a Chai
Wan estate, put a plastic bag over her head and molested her on April 27.
He was charged last night with indecent assault and loitering with intent
and will appear in Eastern Court today.
Department drops trial of 51-hour week for firemen
The Fire Services Department has decided not to go ahead with a trial of a
51-hour working week after a survey found 62 per cent of firemen opposed
it. The Hong Kong Fire Services Department Staffs General Association
has been fighting for a reduction of the working week from 54 to 48 hours.
The union says the department's proposal to cut the working week to 51
hours by reducing staff on night shift would put the public at risk.
Fears of hospital strain from cross-border kids
The Hospital Authority is concerned that the rapid increase in the number
of children with Hong Kong residency but who live across the border will
put a strain on the paediatric services of hospitals in North District.
MARK SIX
The HK$29,868,930 first prize was won by 1.5 tickets in last night's draw.
The numbers were 1, 10, 15, 21, 27 and 37. The extra number was 40.
The HK$3,089,990 second prize was won by 1ticket. Third prize paid
HK$55,300.
South China Morning Post Publishers Limited
Document SCMCOM0020120518e85i00016
Jobless numbers remain low
212 words
18 May 2012
The Standard
HKIMAL
English
Copyright 2012 The Standard Newspapers Publishing Limited. All Rights
Reserved.
Hong Kong's jobless rate remains at a 30-month low with the seasonally
adjusted unemployment rate for February to April hitting 3.3 percent,
down from 3.4 percent in the previous three months before that, the
Census and Statistics Department said yesterday.
The average underemployment rate fell to 1.5 percent from 1.6 percent.
Cleaning services and the financial sector created more jobs.
Secretary for Labour and Welfare Matthew Cheung Kin-chung said,
however, that the entry of fresh graduates and school leavers later this
year into the job market could bring additional pressure on the employment
situation.
The government, therefore, has put in place a series of measures to assist
graduates on both the educational and employment fronts, Cheung said.
That came as economists warned the euro zone debt crisis and uncertain
global outlook will weigh on the local labor market.
Credit Agricole senior strategist Frances Cheung said the jobless rate
could rise to 3.8 percent by the end of the year.
But Recruitment consultancy Robert Half said companies are looking to
hire back-office employees such as accounting officers, middle office staff
in trade support or trade administration, as well as front office client-facing,
relationship employees. VICTOR CHEUNG
Source : The Standard.
The Standard Newspapers Limited
Document HKIMAL0020120517e85i0000a
UPDATE: Hong Kong February-April Unemployment
Rate Falls To 3.3%; Defies Expectations
475 words
17 May 2012
05:57
Dow Jones Business News
DJON
English
(c) 2012 Dow Jones & Company, Inc.
-- Hong Kong's unemployment rate edges lower to 3.3% in FebruaryApril period from 3.4% in January-March
-- The euro-zone debt crisis and weak global economy could weigh on the
city's labor market in coming months, economists say
-- Credit Agricole strategist expects the jobless rate to rise to 3.8% at end2012
(Recasts 1st paragraph, adds comments from economists and government
official on the outlook for Hong Kong's labor market in the 3rd-7th
paragraphs.)
By Chester Yung
Of DOW JONES NEWSWIRES
HONG KONG (Dow Jones)--Hong Kong's unemployment rate edged down
to 3.3% in the three-month period ended April 30, defying market
expectations, but economists say the ongoing euro-zone debt crisis and
uncertain global outlook could weigh on the city's labor market.
The city's seasonally adjusted unemployment rate for the February-April
period fell from 3.4% in the January-March period, and was below the
median 3.5% forecast in an earlier Dow Jones Newswires poll of five
economists.
"Don't read too much into this data as fundamental indicators suggest the
jobless rate should rise in the near term," Credit Agricole senior strategist
Frances Cheung said, noting the jobless rate is a lagging indicator.
Cheung said the unemployment rate is likely to rise in the coming quarters
and hit 3.8% at end-2012.
The city's jobless rate has declined steadily since it peaked at 5.5% in
June-August 2009. However, economists say the rate will rise amid an
uncertain global economy and the euro-zone debt crisis.
Hong Kong's economic growth slowed more than expected in the first
quarter, hurt by declining exports. Gross domestic product for the three
months ended March 31 rose 0.4% from a year earlier, slowing from the
fourth quarter's 3.0% rise and undershooting the 1.4% median forecast of
analysts polled by Dow Jones Newswires.
Secretary for Labour and Welfare Matthew Cheung said the labor market
outlook will hinge on overall economic growth and the pace of job creation
in the private sector, noting the government remains "vigilant to the impact
brought by external uncertainties, including the evolving euro-zone debt
crisis and slack in the major advanced economies, on the Hong Kong
economy."
Still, HSBC Greater China economist Donna Kwok remains optimistic on
the city's economic outlook. She said the continued slowdown in China and
recession in Europe are clearly taking a toll on Hong Kong's trade sector,
"but the stoutness of local job market conditions underpins our view that
besides exports, all other growth drivers are actively supporting the city's
economic growth."
-By Chester Yung, Dow Jones Newswires; 852-2832 2331;
chester.yung@dowjones.com [ 05-17-12 0557ET ]
Dow Jones & Company, Inc.
Document DJON000020120517e85h00021
DATA SNAP: Hong Kong February-April
Unemployment Rate 3.3%; Expected 3.5%
108 words
17 May 2012
04:58
Dow Jones Business News
DJON
English
(c) 2012 Dow Jones & Company, Inc.
HONG KONG -(Dow Jones)- Hong Kong's unemployment rate fell to
3.3% in the three-month period ended April as labor demand remained
firm, the Census and Statistics Department said Thursday, noting that
external uncertainty could weigh on the job market in coming months.
The seasonally adjusted jobless rate fell from 3.4% in the January-March
period, and was below the median 3.5% forecast of five economists
surveyed earlier by Dow Jones Newswires.
-By Chester Yung, Dow Jones Newswires; 852-2832 2331;
chester.yung@dowjones.com [ 05-17-12 0458ET ]
70694
Dow Jones & Company, Inc.
Document DJON000020120517e85h0001q
HK unemployment rate falls to 3.3 pct
黄歆
164 words
17 May 2012
07:07
Xinhua's China Economic Information Service
XNHA
English
(c) 2012 新华通讯社版权所有，未经协定授权，禁止下载使用。
HONG KONG, May 17 (Xinhua) -- The seasonally adjusted
unemployment rate of Hong Kong was 3.3 percent in the February-April
quarter, down from 3.4 percent in the January-March period, the city's
Census & Statistics Department announced Thursday.
Hong Kong's total employment was 3,649,300, similar to the previous
quarter, the department said, adding the underemployment rate decreased
from 1.6 percent to 1.5 percent.
Decreases in the unemployment rate were mainly observed in the cleaning
and financing sectors. As for the underemployment rate, decreases were
mainly seen in the decoration, repair and maintenance for buildings, and
repair, laundry, domestic and other personal service activities sectors.
The labor force was 3,774,100 in February-April, and 3,773,700 in
January-March.
The number of unemployed rose from 124,100 to 124,700, while the
number of underemployed decreased from 58,600 to 57,500. Enditem
09
China Economic Information Service of Xinhua News Agency
Document XNHA000020120517e85h002uz
HK jobless rate down to 3.3 pct in Feb-Apr
396 words
17 May 2012
04:43
Reuters News
LBA
English
(c) 2012 Reuters Limited
May 17 (Reuters) - Hong Kong unemployment data:
* HK jobless rate down to 3.3 pct for February-April
* February-April underemployment at 1.5 percent vs 1.6 percent in
January-March
KEY DATA
Feb-Apr
Jan-Mar
Dec-Feb
Nov-Jan
Oct-Dec
Sep-Nov
Aug-Oct
Jul-Sep
Jun-Aug
May-Jul
Apr-Jun
Mar-May
UNEMPLOYMENT (PCT)
3.3*
3.4
3.4
3.2
3.3
3.4
3.3
3.2
3.2
3.4
3.5
3.5
UNDEREMPLOYMENT (PCT)
1.5*
1.6
1.5
1.5
1.4
1.5
1.6
1.7
1.8
1.7
1.8
1.9
* = provisional
KEY POINTS:
* The government has forecast 2012 GDP to rise 1-3 percent.
COMMENTARY
Commenting on the latest unemployment figures, the Secretary for Labour
and Welfare, Mr Matthew Cheung Kin-chung, said, "Labour demand
remained largely firm in recent period. Total employment stood at
3,649,300 in February - April 2012, broadly on a par with the peak in
January - March. The seasonally adjusted unemployment rate edged down
by 0.1 percentage point from 3.4 percent to 3.3 percent over the same
period."
On the short-term outlook, Mr Cheung said, "While the positive hiring
sentiment still generally prevails among employers as indicated by the
recent vacancy and business tendency survey results, the near-term
outlook will depend on whether job creation in the corporate sector can
sustain at a pace sufficiently fast enough to absorb the increase in labour
supply over the summer months.
"The potential increase in entry of fresh graduates and school leavers due
to this double cohort year could pose additional pressure on the
employment situation. We will closely monitor development, and remain
vigilant to the impact brought by external uncertainties, including the
evolving Eurozone debt crisis and slack in the major advanced economies,
on the Hong Kong economy."
LINKS:
To view the full details of the unemployment data, see the Hong Kong
government website:
(http://www.info.gov.hk/hkecon/key/index.htm[http://www.info.gov.hk/hkeco
n/key/index.htm])
To read more on the Hong Kong economy, doubleclick on .
For all of today's Asian economic data, please click .
(Reporting by Raymond Leung; Editing by Ramya Venugopal)