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Following is the transcript (English portion) of remarks by the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, on the latest unemployment statistics at a media stand-up today (January 18):
The year 2010 saw widespread and notable improvements in labour market conditions in Hong Kong, thanks to sustained economic growth and job gains.
Last year, the number of private sector vacancies posted by the Labour Department reached a record high of 752 323, representing a significant increase of 27.6 % over 2009. The number of placements amounted to 149 609, up by 23.8 %.
The annual unemployment rate declined from 5.4 % in 2009 to around 4.3% last year. Total employment for the whole year also expanded by around 1.1%.
In the short term, with increased economic activities in the run-up to the Lunar New Year, there will be continuous demand for labour.
On the basis of some recent survey data and feedback, employers generally are expected to maintain a positive attitude towards business activity and staff recruitment in the next few months. This should help keep the unemployment rate at relatively low levels in the near term.
However, the weak performance of the advanced economies and the sovereign debt crisis in the Euro zone remain a cause for concern. We will continue to be vigilant and monitor developments closely.
(Please also refer to the Chinese portion of the transcript.)
Ends/Tuesday, January 18, 2011
Issued at HKT 19:21
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