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A ray of sunlight for the city came with news that the jobless figure fell to 8 per cent in August-October. This compared with 8.3 per cent during the July-September period. An increasing number of mainland tourists helped to create new local jobs.
It was the third consecutive season during which the unemployment situation has improved, figures of the Census and Statistics Department suggested.
The jobless rate had hit a record high of 8.7 per cent in July following the severe acute respiratory syndrome (SARS) outbreak.
The number of unemployed persons has decreased by around 15,300 from 297,300, according to government figures.
A press release issued by the Government Information Services said decreases in the unemployment rate were seen mainly in the retail trade, restaurants and hotels, real estate, import/export trade, decoration and maintenance, and sanitary services.
The underemployment rate -- which tracks the number of people who were unable to find more than part-time work -- fell from 3.6 per cent to 3.5 per cent.
It indicates that the number of underemployed went down by 6,600 from 12,600 during the periods.
Acting Financial Secretary Stephen Ip told reporters that the improvements reflected the positive economic benefits brought about by the increasing number of mainland tourists travelling to Hong Kong via the Individual Travellers Scheme and the Closer Economic Partnership Arrangement (CEPA).
"The scheme has brought about improvements in tourism, retail, air services and other industries. With the implementation of CEPA, the job market would further benefit."
He said the economic recovery has brought about more job opportunities. But because Hong Kong is facing a structural problem, structural unemployment will still be an issue in the short term.
Available private sector jobs registered with the Labour Department have continued to increase. October saw about 22,000 registered, an increase of 1.7 per cent from September and 19 per cent from the same period of last year, according to the press release.
(China Daily HK Edition November 18, 2003)
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