Hong Kong's jobless rate falls to 3.4%

Hong Kong's seasonally adjusted jobless rate in March to May fell to 3.4 percent from 3.5 percent in the three months ended April, the city's statistics department said here on Tuesday. The unemployment rate was mainly observed in the transportation, arts, entertainment and recreation sectors. Total employment increased by around 17,200 from 3,718,300 in February to April 2013 to 3,735,500 in March to May. Over the same period, the labor force also increased by around 18,000 from 3,851, 700 to 3,869,700. The Secretary for Labor and Welfare Matthew Cheung said the labor supply will continue to be boosted in the short term by the entry of fresh graduates and school leavers, and by some job- seekers induced by the recent increase in the statutory minimum wage rate.