18.01.201804:45:00UTC+00Hong Kong Jobless Rate Falls Unexpectedly

Hong Kong's unemployment decreased unexpectedly in the three months ended December, though marginally, the Census and Statistics Department reported Thursday.

The unemployment rate dropped to 2.9 percent in the October to December period, edged down from 3.0 percent in the September to November period.

Economists had expected the rate to remain stable at 3.0 percent.

The underemployment rate remained unchanged at 1.1 percent in the two periods.

On an unadjusted basis, the number of unemployed people totaled 109,800 in October to December, down from 117,800 in September to November.

At the same time, total employment increased by around 10,300 to 3.85 million in the October to December period.

"The overall benign economic conditions are expected to keep the labor market tight in the near term," the Secretary for Labor and Welfare, Dr Law Chi-kwong, said.

"Nevertheless, we will continue to monitor closely the various external uncertainties and developments in the local labor market."