HK jobless rate stands at 3.1%

HONG KONG - Hong Kong's seasonally adjusted jobless rate for the three months ended February stood at 3.1 percent, the city's statistics department said on Monday.

The Secretary for Labor and Welfare of Hong Kong Special Administrative Region government Matthew Cheung said the labor market remained tight in December 2013 to February 2014, with the seasonally adjusted unemployment rate staying at a 16-year low.

He said the youth employment has improved in tandem, with the unemployment rate for youths aged 15 to 24 decreasing 0.3 percent to 7.2 percent in the noted period.

To promote youth employment, the HKSAR government will continue to provide employment support and training services on all fronts through the Labor Department, the Vocational Training Council and Employees Retraining Board, he said.

On the short-term outlook, Cheung said the unemployment rate is expected to remain low in the near term on the back of steady growth in domestic demand, and the government will continue to monitor the external development and the potential impact on local labor market.

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