Hong Kong's unemployment rate slipped to a 30-month low in the June-to-August period as the territory's economic recovery created more jobs, the government said on Thursday.
The seasonally adjusted rate stood at 6.8 percent, down from 6.9 percent in May-to-July and better than expectations. A Reuters survey of 10 economists had forecast an unchanged jobless rate of 6.9 percent for the period.
"I'm pleased to see that there has been a modest improvement," said Financial Secretary Henry Tang. "But 6.8 percent is still a high rate and many people are still out of a job.
Hong Kong's economic recovery is gaining traction. Last month, the government raised its 2004 economic growth forecast to 7.5 percent from six percent after data showed the economy grew 2.6 percent in the second quarter from the previous quarter.
The city's six-year deflationary spiral has also officially come to an end, with consumer prices higher in July than the same month a year earlier for the first time since October 1998.
The government said total employment increased by 6,800, with hiring picking up in the retail trade, restaurants, business services and welfare and community services. The labour force expanded by 7,600 as new graduates and school leavers joined.
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