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Following is the transcript of remarks (English portion) by the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, on the latest unemployment statistics at a media session today (February 21):
On the short-term outlook, looking ahead, as business activity tends to abate after the Lunar New Year holidays and as it is customary for employers to review their staffing positions at the beginning of the year, labour demand would likely weaken in the near term.
Moreover, the outlook of Hong Kong's exports is bleak in the short term as the evolving Eurozone sovereign debt crisis continues to overshadow the global economy.
Against this background, the unemployment rate could face some upward pressure in the coming months. We will remain vigilant and continue to monitor developments closely.
(Please also refer to the Chinese portion of the transcript.)
Ends/Tuesday, February 21, 2012
Issued at HKT 19:21
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