Hong Kong's unemployment rate stood at 3.3%

Underemployment rate down to 1.5%.

According to a report, the seasonally adjusted unemployment rate stood at 3.3% in May-July, matching the April-June figure.

The Census & Statistics Department announced today the underemployment rate decreased from 1.6% in April-June to 1.5% in May-July.

An increase in the unemployment rate (not seasonally adjusted) was mainly observed in the decoration, repair and maintenance for buildings sector, while a decrease was mainly seen in the warehousing and support activities for transportation sector.

For the underemployment rate, decreases were mainly observed in the decoration, repair and maintenance for buildings, and cleaning and similar activities sectors.

Total employment increased by about 4,400 to 3,749,500 in May-July, while the labour force also grew by 6,300 to 3,883,500.

The number of unemployed people (not seasonally adjusted) increased by 1,900 to 134,000. The number of underemployed decreased by 2,600 to 58,800.

Secretary for Labour & Welfare Matthew Cheung said the labour market remained in a state of almost full employment during the period.

"Total employment grew steadily further to another record high and was able to absorb about two-thirds of the additional labour supply. After discounting for seasonal factors, the seasonally adjusted unemployment rate stayed low at 3.3%."

Mr Cheung said labour demand will likely stay firm on the back of resilient domestic demand, thereby leading to broadly stable labour market conditions in the near term. But there are still considerable uncertainties clouding the global economic outlook, including the future direction of US monetary policy.

"We will stay alert to these developments and closely monitor their potential impacts on the local economy and labour market."