Hong Kong Jobless Rate Rises To 3.4%

(RTTNews) - Hong Kong's unemployment rate increased in the February-April period, labor force statistics from the Census and Statistics Department showed on Tuesday.

The seasonally adjusted unemployment rate rose to 3.4 percent in February-April, up from 3.2 percent in the January-March period.

The data showed that the underemployment rate climbed to 1.3 percent from 1.1 percent.

On an unadjusted basis, the unemployment rate also rose to 3.4 percent from 3.2 percent.

The number of unemployed persons was 129,400, compared to 122,800 in the January-March period.

"Various industries in Hong Kong are undergoing a transitional period, and the trends of their unemployment rates may go upward or downward," Chris Sun, the secretary for labor and welfare, said.

"However, the recent easing of trade tensions, the continued growth in the mainland economy, the government's various measures to boost economic momentum, and the continuous positive growth of the overall economy will provide support to the labor market."