Unemployment rate rises to 3 percent

Hong Kong's unemployment rate rose to 3 percent in three-month period ending in March, according to official figures released on Thursday. That's a 0.1 percentage point increase compared with the December-to-February period. Another 9,400 people became jobless during the first quarter of 2024, with officials noting that there were 111,700 unemployed persons in the three-month period ending in March. Meanwhile, the underemployment rate edged up slightly to 1.1 percent. In a statement, Secretary for Labour and Welfare, Chris Sun, said the unemployment rate was generally low despite the uptick. "The unemployment rates of most sectors increased in January - March 2024 compared with the preceding three-month period, but stayed low in general," he said. "As the economy continues to grow, the labour market will likely remain tight in the near term."