Unemployment rate holds on at 3.1% in December to February

While underemployment dipped to 1.2%.

The seasonally adjusted unemployment rate stood at 3.1% in December-February, matching the November-January figure, while the underemployment rate dipped from 1.3% to 1.2%, the Census & Statistics Department announced.

An increase in the unemployment rate (not seasonally adjusted) was observed in the construction sector, while a decrease was seen in the information and communications sector. A decrease in the underemployment rate was seen in the construction sector.

Total employment decreased by around 32,900 to 3,731,900. The labour force also decreased by around 33,400 to 3,844,300. The number of unemployed people, not seasonally adjusted, was 112,500 and the number of underemployed people was 46,900.

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

"Total employment declined from its historic high in the preceding three-month period, conceivably because business activities returned to a more normal level after its peak in the Lunar New Year. Meanwhile, the underemployment rate edged down further to 1.2%, the lowest level since September-November 1997."

Mr Cheung said the unemployment rate is expected to remain low in the near term on the back of steady growth in domestic demand.