Hong Kong Jobless Rate Rises To 3.1%

(RTTNews) - Hong Kong's unemployment rate increased slightly in the August to October period, labor force statistics from the Census and Statistics Department showed on Monday.

The seasonally adjusted unemployment rate came in at 3.1 percent in the August to October period, up from 3.0 percent in the July-September period.

The data showed that the underemployment rate dropped to 1.1 percent from 1.2 percent.

Without adjustment, the unemployment rate rose to 3.2 percent from 3.1 percent.

The number of unemployed persons was 120,700, compared to 119,900 in the July-September period.

"The labor market should remain tight in the near term alongside the continued economic growth, though the employment situation may continue to vary across sectors depending on their business performances," Chris Sun, the secretary for labor and welfare, said.