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Unemployment rate in Hong Kong slightly lower
AFP, HONG KONG
Wednesday, Nov 19, 2003, Page 10
Financial Secretary Henry Tang (š^¦~) warned yesterday that Hong Kong's unemployment problem is structural and still had to be resolved despite recent declines in the jobless rate.
Tang said on a local television report that he welcomed the drop in the unemployment rate to 8 percent for the three months to October from 8.3 percent in the previous three-month period. Hong Kong will benefit from continued economic growth in China and the gradual rebound in the US, he said.
Hong Kong's unemployment rate hit a record high of 8.7 percent in the three months to July in the wake of the outbreak of SARS.
The government raised its economic growth forecast for the year to 3 percent last month from the previous estimate of 2 percent.
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