Hong Kong's unemployment rate rises to 5.2 per cent
Hong Kong - Hong Kong's unemployment rate has risen to a three-year high of 5.2 per cent as the economic slump takes its toll, according to government figures Monday.
The figure for the quarter running from January to March is 0.2 percentage points higher than the figure for the previous quarter from December 2008 to February.
Around 5,500 jobs were lost between the two quarters, according to government figures, with the biggest rises in joblessness recorded in the construction, transport, hospitality and financial sectors.
Secretary for Labour Matthew Cheung warned that the unemployment rate would rise further in the months ahead, with many expecting unemployment in the city of 7 million to hit 7 per cent this summer.
Cheung said: "We will closely monitor the employment situation and continue to enhance our employment services on all fronts."
Unemployment in Hong Kong hit an all-time high of 8.7 per cent in the aftermath of the 2003 Severe Acute Respiratory Syndrome crisis but recovered steadily to just over 3 per cent last year. (dpa)