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The following is a transcript (English portion) of the Secretary for Economic Development and Labour, Mr Stephen Ip, speaking to the press on the latest unemployment rate at the Central Government Offices West Wing today (May 20):
Stephen Ip: The unemployment rate for the period February to April, 2003 is 7.8%. Underemployment rate is 3.2%. Both rates are higher than those for January to March by 0.3%. Total employment dropped to about 3.23 million, while the number of unemployed persons increased by around 14,000 to 274,000. The number of underemployed also increased by about 12,000. The unemployment rate rose mainly in sectors like restaurants, hotels, retail, manufacturing, real estate and transport, while the underemployment rate increases occurred mainly in transport, restaurants, retail trade, decoration and maintenance. The Government has taken action to create over 21,000 temporary jobs to help relieve the unemployment situation. The impact of SARS on the unemployment situation will continue to be reflected in the unemployment rate in the next few months.
Reporter: What do you think will be the full impact of SARS eventually on unemployment rate, what figure will it go up to?
Stephen Ip: I don't want to make any prediction but definitely we will feel the full impact of SARS on the unemployment situation in the next few months. And that is why we have created 21,000 temporary jobs to help the unemployed. We will continue to monitor closely the situation to see what more we need to do.
Reporter: Which industries are the most affected?
Stephen Ip: The most affected sectors are the restaurants, the hotels, airlines, travel agents, and the transport sector.
(Please also refer to the Chinese portion)
End/ Tuesday, May 20, 2003
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