Hong Kong's unemployment rate stood steady at 3.1%

Even underemployment rate was unchanged.

According to the Census & Statistics Department, the seasonally adjusted unemployment rate stood at 3.1% in January-March, matching the December-February figure.

The underemployment rate also remained unchanged at 1.2%.

An increase in the unemployment rate (not seasonally adjusted) was observed in the decoration, repair and maintenance for buildings sectors, while a decrease was seen in the financing sector.

Total employment decreased by around 10,900 to 3,721,000. The labour force also decreased by around 4,200 to 3,840,100.

The number of unemployed people, not seasonally adjusted, was 119,100 and the number of underemployed people was 47,700.

Secretary for Labour & Welfare Matthew Cheung said the labour market remained tight in January-March, with the seasonally adjusted unemployment rate staying at a 16-year low of 3.1%.

He forecast the unemployment rate will stay at a relatively low level on the back of a largely stable domestic segment, adding the Government will monitor how the external environment evolves and affects the local labour market.