The city's jobless rate rose to a record high in May as a result of the
impact of the SARS outbreak on the economy, and analysts believe it is likely to
rise further in the near term despite an improving business environment.
Latest government statistics released yesterday suggested the
unemployment rate in March-May rose to 8.3 per cent from 7.8 per cent during
February-April. The underemployment rate also increased from 3.2 per cent to 3.8
per cent over the same period.
The number of unemployed rose by some 13,300 to 287,000, while the number
of underemployed increased from 112,700 to 135,000.
"The manpower resource balance is likely to loosen further, putting
upward pressure on both the unemployment and underemployment rates in the near
term," the government said in a statement.
