Jobless rate from June to August unchanged

Remains at 3.3% on resilient domestic demand.

The Census and Statistics Department said the June to August seasonally adjusted jobless rate was unchanged from the May to July period.

Hong Kong's labor market will likely remain stable in the short term since the city's economic growth is expected to slow, Secretary for Labor and Welfare Matthew Cheung said the labor market is supported more hiring in the corporate sector and by students on summer jobs.

He noted, however, that external uncertainties especially the pace of the expected U.S. monetary policy adjustment and its ensuing impact on global fund flows and regional economies is a cause of concern. Hong Kong’s currency is pegged to the US dollar, hence the city’s apprehension over any monetary easing by the US.