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Jobless rate dips to 3%

The seasonally adjusted unemployment rate dipped 0.1 percentage points to 3% for the period between February and April 2023 compared with January to March 2023, the Census & Statistics Department announced today.   The underemployment rate remained unchanged at 1.2% in the two periods.   Total employment increased by about 1,800 to 3,655,900 while the labour force also rose by around 1,100 to 3,770,300.   There were 114,400 unemployed people from February to April 2023, a drop of around 700 from the preceding period. The number of underemployed decreased by around 2,200 to 44,500.   The combined unemployment rate of the consumption and tourism-related sectors remained unchanged at 4.2% in the two periods.   The unemployment rates of some sectors also declined, notably those of decoration, repair and maintenance for buildings, transportation sector and warehousing, and support activities for transportation sector.    While the unemployment rates of the remaining sectors either showed little change or increased, but stayed low in general.   Secretary for Labour & Welfare Chris Sun said the labour market should improve further in the coming months alongside the ongoing economic recovery.