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| No.1 January, 2010 |
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Jobless rate falls to 4.9% |
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Hong Kong's employment growth continued in the final quarter of 2009 with the jobless rate falling to 4.9% from 5.1% in the previous quarter. Census & Statistics Department figures also reveal the underemployment rate dropped from 2.5% to 2.3%.
The number of unemployed dropped from 181,000 to 172,800, with most movement within the import-export sector, foundation and superstructure, financing and accommodation services sectors.
The number of underemployed fell from 90,200 to 84,500 with drops mainly in the construction and cleaning sectors.
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Secretary for Labour & Welfare Matthew Cheung said unemployment in most age groups had improved. Decreases were more noticeable in the 15-19 and 20-24 age groups, falling by 1.5 percentage points to 20.1% and one percentage point to 10.5%.
"The overall unemployment rate of the construction sector has dropped for eight consecutive months, falling by 0.2 of a percentage point in the latest round to 7.4%.
"In particular, the unemployment rate of the foundation and superstructure sub-sector decreased by 0.7 of a percentage point to 6.9%, as total employment in the sub-sector went up by 6,700.
"It is expected employment in the construction sector will further improve with the commencement of major infrastructure projects such as the Hong Kong-Zhuhai-Macau Bridge and the Guangzhou-Shenzhen-Hong Kong Express Rail."
Mr Cheung said increased business activity ahead of the Lunar New Year will help boost labour demand, easing the pressure on unemployment in the near term.
"A solid recovery of the labour market in the longer-term would hinge on the pace of job creation in the corporate sector," he said.
"Despite the continued decline of the unemployment rate in recent months, the economic outlook is still subject to uncertainties. We shall remain vigilant and continue to monitor closely the labour market situation," he added.
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