2016.10.1805:11:00UTC+00Hong Kong Jobless Rate Remains Stable As Expected

Hong Kong's unemployment rate held steady in September, in line with expectations, figures from the Census and Statistics Department showed Tuesday.

The seasonally adjusted jobless rate came in at 3.4 percent in the three months to September, the same rate as in June to August period. The figure also matched consensus estimate.

The underemployment rate also remained unchanged at 1.4 percent in the two periods.

On an unadjusted basis, the number of unemployed people decreased to 140,600 in the three months ended September from 141,200 in the previous three-month period.

Among sectors, decline was mainly seen in the wholesale sector, while an increase was largely observed in the warehousing support activities for transportation sector.

Total employment fell by around 3,400 from the June to August period to 3.81 million in the July to September period.

"While the labor market has stayed resilient so far this year, the near-term employment outlook remains overshadowed by the unsteady external environment and the moderate growth of the local economy. We will stay vigilant and monitor developments closely," the Secretary for Labor and Welfare, Mr Matthew Cheung Kin-chung, said.