Hong Kong’s seasonally adjusted unemployment rate stood at a provisional 3.2% for the period June – August 2008. This is the same as that in May – July 2008, according to latest labor force statistics released today by the Census and Statistics Department (C&SD) of the Hong Kong Special Administrative Region Government (HKSARG).

Decreases in the unemployment rate (not seasonally adjusted) were mainly seen in the decoration and maintenance, communications, and manufacturing sectors, while increases were more apparent in the sanitary services, education services, and welfare and community services sectors.

The territory’s underemployment rate also remained stable at 1.9% in both periods (provisional figure for June – August 2008). Decreases were mainly seen in the foundation and superstructure construction, and retail trade sectors, offsetting the increases in the decoration and maintenance, and miscellaneous personal services sectors.

Total employment increased by around 13,100 to a provisional 3,546,300 in June – August 2008. Over the same period, the labor force increased by around 17,600 to an all-time provisional high of 3,675,400.

The number of unemployed persons (not seasonally adjusted) increased by around 4,500 to a provisional 129,100 in June – August 2008. Over the same period, the number of underemployed persons decreased by around 900 to a provisional 69,000.

The Secretary for Labour and Welfare, Mr. Matthew Cheung Kin-chung, noted that the unemployment rate has remained stable notwithstanding the expansion in labor supply. “Nevertheless, there is no ground for optimism in face of the global financial turbulence,” said Mr. Cheung. “With the further downside risks to the already challenging external environment, the uncertainties clouding over near term outlook for the local economy have increased.

“The Government will closely monitor the impact on job creation and employment while continuing to enhance training, retraining and employment services,” he said.