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Unemployment rate rises to 2.9%

There were 115,800 unemployed people from August to October.

The jobless rate for the August to October period clocked in at 2.9%, a 0.1 percentage point increase from the July-September record.

Based on the data from the Census & Statistics Department (C&SD), the total number of unemployed people from August to October was 115,800.

The movement of the unemployment rate varied in different industries.

The manufacturing sector and import and export trade sector recorded relatively notable increases.

Meanwhile, the number of underemployed individuals dropped 1,200 to 36,700, translating to a rate of 1%.

"Inbound tourism and local consumption would continue to underpin economic growth in the near term. The labour market should remain tight in the coming months despite some possible negative effects stemming from the difficult external environment."  Secretary for Labour and Welfare, Chris Sun, said.

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