Sudden jump in Hong Kong jobless rate

Rises to 3.5% from January to March.

The Census and Statistics Department said this compares to the seasonally adjusted unemployment rate from December to February of 3.4%. Economists expected the rate to remain at 3.4%.

On an unadjusted basis, the number of unemployed persons increased by around 9,400 to 132,500 from January to March. Total employment increased by around 8,200 to 3.7 million over the same period.

Secretary for Labor and Welfare Matthew Cheung Kin-chung said that while the resilient domestic consumption and further growth of inbound tourism will continue to underpin labor demand, the employment situation going forward will hinge crucially on the overall economic growth and the capacity of the corporate sector to create jobs.