AlHijjah 21, 1432, Nov 17, 2011, SPA -- Hong Kong's jobless rate recorded its first increase for five months Thursday as the deepening European debt crisis and slowing US growth hit the city's economy, dpa cited the city's government as saying. Unemployment for the July to September period was 3.3 per cent, the government announced, 0.1 percentage points higher than the period August to October. The increase is the first in Hong Kong's jobless rate since the February-to-April period. Hong Kong's jobless figures are updated every month based on the preceding quarter, to minimize the impact of seasonal fluctuations. Total employment in the city of 7.1 million, which has risen for seven consecutive months, dropped by 2,300 to 3,640,100, the government said. Secretary for Labour and Welfare Matthew Cheung said the city's economy was being affected by the deepening eurozone debt crisis and subdued economic growth in the US. Cheung said he expected employers to remain cautious and reluctant to hire in the months ahead.
