2017.07.1806:28:00UTC+00Hong Kong Jobless Rate Falls Unexpectedly

Hong Kong's unemployment rate dropped unexpectedly in the three months ended June, though slightly, preliminary figures from the Department of Statistics showed Tuesday.

The seasonally adjusted unemployment rate came in at 3.1 percent in the April to June period, down from 3.2 percent in the March to May period.

Meanwhile, economists had expected the rate to remain stable at 3.2 percent.

The underemployment rate remained unchanged at 1.2 percent in the two periods, the agency said.

On an unadjusted basis, the number of unemployed people totaled 125,200 in April-June, down from 126,300 in March-May.

At the same time, total employment increased by around 4,200 over the period to 3.82 million in the three months to June.

"In the near term, the overall labor market conditions are expected to remain favorable on the back of sturdy labor demand," the Secretary for Labor and Welfare, Dr. Law Chi-kwong, said.

"Yet, we will stay vigilant and closely monitor how the various external uncertainties evolve and affect the local economy down the road."