The latest unemployment statistics stood at 3.3 per cent in the three months to February 2017. The underemployment rate decreased to 1.2 per cent in November 2016 – January 2017, according to the Census and Statistics Department. “The jobless rate benefited from the relative improvement of inbound tourism and in more buoyant business activities during the festive period”, says Chusnul Ch Manan of Trading Economics.
“While the labour market will likely remain generally tight in the near term, the employment outlook still hinges on the play-out of various external uncertainties surrounding the local economy down the road,” the Secretary for Labor and Welfare Stephen Sui said. “With the private sector enterprises normally reviewing their annual staffing position after the Lunar New Year, we will stay vigilant and monitor developments closely.”
The report from Census and Statistics Department states that the employment rate in four industries slightly increased: Import/Export, Wholesale and Retail Trades; Transportation, Storage, Postal and Courier Services; Financing and Insurance; Social and Personal Services.
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