HK's Unemployment Rate Drops To 3.1 Percent
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2023-04-24 HKT 18:02
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Hong Kong's unemployment rate has dropped to 3.1 percent.
Government data released on Monday showed that the jobless rate for the three months to March was 0.2 percentage points lower than the period to February, marking the 11th straight month of decline.
The underemployment rate also fell by a tenth of a percentage point to 1.2 percent.
Labour Secretary Chris Sun said the jobs market will continue to improve as domestic economic activities and inbound tourism revive.
"The disbursement of the new batch of consumption vouchers beginning this month will also help," he said.
Economics scholar Kevin Tsui of Clemson University said the rate is within his expectations.
"Around 3 percent is the long-run normal time unemployment rate," he said, adding that the labour market is tight at the moment.
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