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2012, May 23

Hong Kong's Labour Force Contracts But Jobless Rate Remains Unchanged

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Hong Kong's Labour Force Contracts But Jobless Rate Remains Unchanged

by CFO Innovation Staff, 19 May 2010
topics:
Human Capital Management Management
tags:
jobs labour force
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Hong Kong's labour force contracted moderately in April to 3.65 million with unemployment rate remaining at 4.4%, says the South China Morning Post, citing government data.

 

Interpreting the data, the newspaper says there are "about 4,200 more people without jobs and some 6,300 fewer people employed last month." The Post notes that real estate, wholesale and transport sectors generated the most jobs while hotel, information and communications, foundation and superstructure, and retail industries shed manpower.

 

"With the entry of fresh graduates and school leavers into the labour market in the next few months, there will obviously be pressure on the unemployment rate," Secretary for Labour and Welfare Matthew Cheung Kin-chung told the Post. The official adds that the situation in Europe may also affect Hong Kong's labour market.

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No change in jobless rate as labour force shrinks slightly
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CFO Innovation Staff
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