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SLW's remarks on latest unemployment statistics (1)
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     Following is the transcript (English portion) of the remarks made by the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, at a media stand-up today (June 16) on the latest unemployment statistics:

     The latest unemployment rate for the period of March to May remained unchanged at 5.3% for the first time after rising for eight consecutive months. The labour market has shown signs of stabilisation. This is encouraging.

     The other positive factor is the total employment increased by around 12,800 to 3.5 million after falling for four straight months. Again this is encouraging.

     If you look at the various sectors, decreases in the unemployment rate were mainly observed in the construction sector, transportation, accommodation services, arts, entertainment and recreation sectors, while increases in unemployment were more apparent in the food services and wholesale trade sectors.  

     The unemployment rate of the construction sector fell by 0.6 percentage points, from 12.7% to 12.1%.  For the decoration and maintenance sub-sector, the unemployment rate fell notably by 2.9 percentage points, from 21.6% to 18.7%.

     This showed that the Government's efforts to boost employment in the construction sector by speeding up the implementation of major infrastructural projects and public works projects, as well as launching the "Operation Building Bright" project are beginning to take effect. We are reaping early fruits.

     Looking ahead, as I said while it is encouraging to see that the unemployment rate has remained unchanged for the first time in eight months, we must not be complacent for three reasons. First of all, in terms of economic recession which is the worst global recession in 60 years, we are not out of the woods yet.

     Secondly, with large number of school-leavers and graduates joining the labour market shortly, there will be pressure on the unemployment, particularly pressure on the labour market in the coming months.

     Finally, of course human swine influenza, a community outbreak will pose an extra pressure on the labour market. We must continue to be on the alert, monitor the development closely, and more importantly, implement the host of relief measures announced earlier to boost the economy and to ease unemployment.

(to be continued)

(Please also refer to the Chinese portion of the transcript.)





Ends/Tuesday, June 16, 2009
Issued at HKT 19:00

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