Unemployment rate in Hong Kong declined to 3.2 percent in the three months ended May, the Census and Statistics Department said Monday.
During the three months through April, the jobless rate was 3.3 percent. "The labor market held tight and remained in a state of full employment," Secretary for Labor and Welfare Matthew Cheung Kin-chung said in a statement.
In the near term, the prevailing positive hiring sentiment among employers should help cushion in part the impact of the additional labour supply, driven by the entry of fresh graduates of this double cohort year, the official said.
However, according to Cheung, the employment situation going forward may remain challenging, in face of the increasing downside risks stemming from the worsening Eurozone debt crisis and the unsteady pace of economic recovery in the US.
The number of unemployed persons decreased to 123,400 in March-May from 124,700 in February- April. Total employment increased to 3.66 million during the period, the statistical department said.
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