Factiva
Hong Kong Jan-Mar Unemployment Rate 3.5%;
Slightly Above Forecasts
By Chester Yung
196 words
18 April 2013
04:57
Dow Jones Global News Select
DJON
English
(c) 2013 Dow Jones & Company, Inc.
HONG KONG--Hong Kong's unemployment rate rose to 3.5% in the
three-month period ended March, the Census and Statistics Department
said Thursday, adding the uncertain global outlook could affect the labor
market in the near term.
The seasonally adjusted jobless rate rose from 3.4% in the DecemberFebruary period and was above the median 3.4% forecast of six
economists surveyed earlier by Dow Jones Newswires.
"While the resilient domestic consumption and further growth of inbound
tourism will continue to underpin labour demand, the employment situation
going forward will hinge crucially on the overall economic growth and the
capacity of the corporate sector to create jobs," Secretary for Labour and
Welfare Matthew Cheung said in a statement.
"Uncertainties in the external environment, including those stemming from
the fluid European sovereign debt situation and the escalating geopolitical
tensions, remain a cause of concern" Mr. Cheung said.
Hong Kong's jobless rate has declined steadily since it peaked at 5.5% in
June-August 2009.
Write to Chester Yung at chester.yung@wsj.com [ 04-18-13 0457ET ]
70694
Dow Jones & Company, Inc.
Document DJON000020130418e94i0001z
HK jobless rate rises to 3.5 pct in Jan-Mar
386 words
18 April 2013
04:43
Reuters News
LBA
English
(c) 2013 Reuters Limited
April 18 (Reuters) - Hong Kong unemployment data:
* HK jobless rate up to 3.5 pct for January-March
* January-March underemployment at 1.6 percent vs 1.5 percent in
December-February
KEY DATA
Jan-Mar
Dec-Feb
Nov-Jan
Oct-Dec
Sep-Nov
Aug-Oct
Jul-Sep
Jun-Aug
May-Jul
Apr-Jun
Mar-May
Feb-Apr
UNEMPLOYMENT (PCT)
3.5*
3.4
3.4
3.3
3.4
3.4
3.3
3.2
3.2
3.2
3.2
3.3
UNDEREMPLOYMENT (PCT)
1.6*
1.5
1.6
1.5
1.4
1.5
1.6
1.7
1.5
1.4
1.4
1.5
* = provisional
KEY POINTS:
** The government has forecast 2013 GDP to rise 1.5-3.5 percent.
COMMENTARY
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung,
said, "Labour demand held buoyant in the first quarter of 2013 and total
employment rose further to a new record high of 3,720,200. Nevertheless,
as the labour force likewise expanded by a larger extent, the seasonally
adjusted unemployment rate edged up by 0.1 percentage point to 3.5
percent."
"On the short-term outlook, Mr Cheung said, "While the resilient domestic
consumption and further growth of inbound tourism will continue to
underpin labour demand, the employment situation going forward will
hinge crucially on the overall economic growth and the capacity of the
corporate sector to create jobs."
"Uncertainties in the external environment, including those stemming from
the fluid European sovereign debt situation and the escalating geopolitical
tensions, remain a cause of concern."
"We will stay vigilant and monitor development in the local labour market
closely. The Labour Department will keep up its efforts in providing
comprehensive employment service to job-seekers and enhance its
employment service in relatively remote districts."
LINKS:
To view the full details of the unemployment data, see the Hong Kong
government website:
(http://www.info.gov.hk/gia/general/201304/18/P201304180398.htm[http://
www.info.gov.hk/gia/general/201304/18/P201304180398.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 in HONG KONG; Editing by Sanjeev
Miglani)
HONGKONG-ECONOMY/UNEMPLOYMENT (URGENT) | ABX | ABN | D | E |
RBN | M | Z | RNP | DNP
Reuters Limited
Document LBA0000020130418e94i000fk
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