Hong Kong July-September Unemployment Rate Steady at 3.3%

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The FINANCIAL — Hong Kong’s unemployment rate stayed at 3.3% in the three-month period ended September, data released on October 19 show, but the government warned that the labor market’s resilience may face challenges in the short term, according to Nasdaq.

The seasonally adjusted jobless rate for the July-to-September period was in line with economists’ forecasts, and comes as employment and labor force posted growth at a broadly similar pace, the city’s government said. The jobless rate has remained at 3.3% for the third consecutive month.

Looking ahead, the government said that weaker global demand, increased stock market volatility, and a slowdown in inbound tourism will cloud the labor market’s near-term outlook.

 

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