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The following is the transcript of the Financial Secretary, Mr Antony Leung speaking to the press at CGO West Wing this afternoon (Tuesday) :
Financial Secretary : Today I'm happy to report that the unemployment rate, after persistent increases in the last one year, has seen a reduction of 0.2 per cent, from 7.8 per cent to 7.6 per cent. Also delighting is the reduction in the total number of unemployed people. It has been reduced by 1,000.This is the result of a faster increase in the jobs available, which increased by 12,500 in the last one month, compared with the growth in labour force of 11,500.
The improvement in unemployment is the result of both an improvement in the external environment as well as efforts by the Government to improve the business environment.
We are optimistic that the situation will continue to improve. However, one should be cautious of the fact that the external environment is still uncertain as well as the fact that we are undergoing economic re-structuring.
The Government is committed to improving the business environment further so that we can provide jobs for Hong Kong residents. Now, if I may, I'd like to invite Stephen (Ip) to brief you on the details.
Reporter : Mr Leung, you mentioned external forces. How do you expect Hong Kong's unemployment and also transport fits into this, being affected by rising oil prices?
Financial Secretary : Well, the oil price obviously will affect Hong Kong's economy, but it depends how much it would rise. Also, it depends on the consumer's confidence. I hope that, if indeed there is a war unfortunately, then it would not be a very prolonged war so that the impact on Hong Kong would not be that large. Last time, the Gulf War didn't affect Hong Kong that much. We hope that this time it would not affect Hong Kong this much as well.
(Please also refer to the Chinese portion of the transcript)
End/Tuesday, September 17, 2002
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