Hong Kong unemployment rate ends 5.3%

The Hong Kong Census and Statistics Department announced that the unemployment rate of 5.3% in 3 to May was unchanged for the first time after a 8-month continuous increase, reflecting the steady return of the labour market. The latest unemployment rate, released by the Hong Kong Census and Statistics Department yesterday, was unchanged at 5.3%, the first recorded increase in 8 months and a further 12,800 in total employment, for the first time in 5 months, according to Wen Wei Po.　　The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, considers that the figures are encouraging and that a series of measures such as speeding up infrastructural projects and launching the "Building renewal operation" have obviously yielded initial results, but the unemployment rate is still under pressure as graduates are about to be put into the labour market. Statistics show that the unemployment rate remained at 5.3% in March to May this year, and that the number of unemployed persons increased by about 2,800 to 199,700. Over the same period, the underemployment rate increased by 0.1% to 2.3%, the number of underemployed persons increased by about 5,300 to 85,200, and total employment recorded an increase for the first time after a continuous 4-month decline,　　From February to April, 3.5021 million people increased to 3.5149 million, and the labour force rose to 3.174 million, a record high. The unemployment rate in the construction industry has fallen from February to April this year, with the fall in the unemployment rate in March-May mainly in the construction, transport, accommodation and arts, entertainment and leisure services industries. Among them, the construction industry remained the hardest hit by unemployment, but it had fallen from 12.7% to 12.1% and the unemployment rate in the decoration and maintenance industry had fallen sharply from 21.6% to 18.7%.　　In addition, the unemployment rate in catering services, social work activities and the wholesale sector has increased markedly, while the rise in the underemployment rate is mainly seen in the construction and warehousing and transport ancillary services sectors. Graduates coming into the market in the future, Mr Cheung said that the unemployment rate had remained unchanged for the first time in 8 months and that the number of employment figures had increased for the first time in 5 months, and that the employment market had shown signs of stabilisation as support for enterprises and employment measures had been implemented.　　However, he also pointed out that as the overall economy was still to be revived, fresh graduates and school leavers would be put into the labour market in the next two months, and the uncertainty of the swine flu pandemic, the unemployment rate was still under upward pressure. Mr Cheung also pointed out that civil service pay adjustments tended to follow the private market and believed that the pay cut of senior civil servants would not have a significant impact on the pay levels in the private sector.　　In addition, the Labour Department published more than 40,000 vacancies in the private sector in May, down 28% from a year earlier and a 10.2% per cent decline in April this year, with an average of about 2,100 vacancies on each working day in May. In the second half of the year or now layoffs and pay cuts and general manager Su Weizhong explained that due to the completion of many hotels, the need for a large number of staff, so that the housing industry unemployment. He also pointed out that the unemployment rate remained unchanged, reflecting that the drastic layoffs of enterprises had passed, but if SMEs did not improve their business environment in the second half of the year, they would not rule out the recurrence of closures, layoffs and wage cuts. He pointed out that as a large number of graduates will be put into the labor marketWill push up unemployment. He said: "As the labour market is not in a condition to absorb all the graduates this year, we urge fresh graduates not to mind the salary, as soon as possible into the work of the city