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April 20, 2009
HK's unemployment rate up
HONG KONG - HONG Kong's jobless rate jumped to 5.2 per cent in the three months ending March, government statistics showed on Monday, the highest level in three years.

The figure increased from 5.0 per cent in the three months ending February, as the construction, finance and transportation sectors were hit by a reduction in work, the Census and Statistics Department said in a statement.

The number of unemployed increased by around 15,200 to 187,200 over the period, while the workforce increased to an all-time high of 3,694,900, the figures showed.

Secretary for Labour Matthew Cheung said the job market would continue to suffer in the near term, but insisted the government was doing all it could by providing extra training.

'We will... make the best of the current adversity to re-equip and upgrade our workforce as well as enhance their employability,' he said in a statement.

Hong Kong's economy is expected to contract by between two and three per cent in 2009, as the export and financial hub is buffeted by the global slowdown. -- AFP

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