Hong Kong April-June Unemployment Rate 3.2%

Hong Kong April-June Unemployment Rate 3.2%

Hong Kong April-June Unemployment Rate 3.2%

The FINANCIAL -- Hong Kong's unemployment rate held steady at 3.2% in the three-month period ended June as an influx of new graduates this summer increased the labor supply, the Census and Statistics Department said Monday.

The seasonally-adjusted jobless rate was unchanged from 3.2% in the March-May period, and was in line with the median 3.2% forecast of 5 economists surveyed earlier by The Wall Street Journal, according to Nasdaq.

"The job and income prospects of consumption-related sectors will continue to hinge on the performance of inbound tourism," said Secretary for Labour and Welfare Matthew Cheung Kin-chung. "We will keep monitoring development closely, in particular the employment situation of grassroots employees in the sectors concerned," he adds.