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SLW's remarks on latest unemployment statistics
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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 (May 19) on the latest unemployment statistics:

Reporter: Mr Cheung, ... the figure is expected to rise a bit further because of the swine flu, and you mention the Government will be adopting precautious measures to create jobs?

Secretary for Labour & Welfare: It・s very difficult to predict how far and how high the unemployment rate will get but we have to be realistic that we are facing a very tough challenge in front of us.  That・s why we have to leave no stone unturned in creating jobs in facilitating employment on all fronts.  Primarily, if you look at the present unemployment situation hinges much on the external economic environment.  As you all know, external trade has been very badly affected, export trade down 22%.  And the external environment generally remains tough and also pretty uncertain.  Coupled with the fact, human swine flu is another uncertainty.  That・s why we have to be very alert and very vigilant on all fronts.  First of all, we have to be working very hard in creating jobs and pressing hard in infrastructural projects, big or small.  We・ll be creating a large number of jobs in the next few months down the road but it takes time.  Particularly for construction projects, there is a lead time between approval of funding before the project gets started.  So we expect the situation to get worse before it gets better but definitely, it・s a matter of time, the jobs will come on stream and the situation will be eased.  The Chief Executive made it clear last Thursday at Legco that another package of relief measures will be announced within a month.  All these will have a helpful effect on unemployment, soothing the unemployment.

Reporter: What exactly is the package involved regarding construction and social welfare sectors?  Also you mentioned that there is a time lag between getting fund, is there a time frame, say next year, that it・ll actually get it?

Secretary for Labour & Welfare: If we look at construction, we have secured fund amounting to $52 billion from Legco.  We・ll be seeking altogether $100 billion coming up, in fact a lot of money, purely to fund all these infrastructural projects, big or small.  If you count, for example, :Operation Building Bright; which will seek to refurbish 1,000 old tenant buildings, all these will generate 10,000 jobs over the next two years.  Once the projects come on stream, jobs will be created and the situation will be eased.

Reporter: Mr Cheung, you mentioned that there will be some preparations for the tourism industry, what exactly are they?  And would you personally willing to take the pay cut?

Secretary for Labour & Welfare: I made it clear that the Chief Executive said this morning that we prepare actually to do our part.  I・m not prepared to go into detail as we have to take time to work out the details but the message is very clear.

As regards tourism, I also made the point that much depends on what the situation is likely to develop in terms of the swine flu.  It・s too early to say at this stage what the likely impact will be.  It・s early to say.  Very luckily, we don・t even have an outbreak at the moment.  It・s premature to speculate the likely impact.  But we have to be vigilant and fully prepared.

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

Ends/Tuesday, May 19, 2009
Issued at HKT 19:07

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