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HK unemployment holds steady at 5.7 pct

HONG KONG: Hong Kong's unemployment in the three months to end-February was unchanged at 5.7 percent from the same preceding period to end-January, the Census and Statistics Department said on Monday.

Provisional seasonally adjusted underemployment in the period was 2.6 percent, compared to 2.7 percent in the previous period.

Falls in unemployment were seen mainly in the foundation and superstructure construction, real estate, and restaurants and hotels sectors. This was offset by increases in decoration and maintenance, transport and business services sectors.

Government economist K.Y. Tang said continued recovery in 2000 would improve the employment situation. It should, however, be noted that improvement in the unemployment rate usually lagged behind the pace of economic recovery.

Joseph Wong, secretary for education and manpower, said the job market had continued to improve and more job vacancies were being registered with local employment services. -Reuters