The city's jobless rate fell to 4.9 percent between October and December, which was also the fourth consecutive decline since the start of the global financial crisis, the Census and Statistics Department said.

The seasonally adjusted jobless rate fell from 5.1 percent in the September to November period, the government said.

Hong Kong said it last recorded a jobless rate below five percent in the period between November 2008 and January 2009.

In the most recent period, the number of jobless declined by 8,200 to 172,800, while the overall workforce fell slightly from 3,678,600 to 3,669,900 in the three months ending December, the government said.

Matthew Cheung, secretary for labour and welfare, said Hong Kong could see a further drop in unemployment as firms hire staff for the busy Chinese New Year holiday next month.

"(But) a solid recovery of the labour market in the longer term would hinge on the pace of job creation in the corporate sector," he warned in a statement.

"Despite the continued decline of the unemployment rate in recent months, the economic outlook is still subject to uncertainties. We shall remain vigilant and continue to monitor closely the labour market situation."

Cheung's comments come less than a week after Hong Kong's financial secretary warned that the city's economy could take a hit if a turnaround in the United States fails to take hold.

The city's Chief Executive Donald Tsang has also warned that the financial hub's economy could be in for a tumble by mid-2010.

del.icio.us	Digg	Reddit
YahooMyWeb	Google	Facebook

Memory Foam Mattress Review

SPACE MEDIA NETWORK PROMOTIONS Solar Energy Solutions Tempur-Pedic Mattress Comparison ... Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News