The unemployment rate has further decreased in October – December 2009 in Hong Kong.
According to the latest labour force statistics released by the Census and Statistics Department, the seasonally adjusted unemployment rate decreased from 5.1% in September – November to 4.9% in October – December 2009.
Decreases in unemployment rate are mainly in import / export trade, foundation and superstructure, financing and accommodation services.
It is reported that the underemployment rate also declined from 2.5% to 2.3%. Decreases are mainly in construction and cleaning activities.
The total employment decreased slightly to 3,497,100, and the labour force decreased by 8,700 to 3,669,900 comparing the two periods.
The seasonally adjusted unemployment rate has steadily dropped for four consecutive months. The Secretary for Labour and Welfare, Matthew Cheung Kin-chung, commented that the unemployment situation of age groups 15-19 and 20-24 have improved significantly, falling by 1.5% to 20.1% and 1.0% to 10.5% respectively.
He added that the unemployment rate of construction has dropped for eight consecutive months, falling by 0.2% to 7.4% in the latest round. It is expected that employment in the construction sector will further improve with the commencement of major infrastructure projects such as the Hong Kong-Zhuhai-Macao Bridge and the Guangzhou-Shenzhen-Hong Kong Express Rail.
In the near future, the increased business activity in pre-Lunar New Year will help boost labour demand, thereby further easing the pressure on unemployment.
