Labour Secretary says he is not optimistic about Hong Kong's unemployment rate. Labour Secretary Law Chi-kwong said on Saturday that he believes the city's unemployment rate will have exceeded six percent in recent weeks, adding that he's not optimistic about the situation in the near future, RTHK reports. The city's jobless rate climbed to a 15-year-high of 5.9 percent in the period between March and May, as the city reeled from the coronavirus pandemic. He estimated that Hong Kong's unemployment rate will not fall below three percent in the next few years. He noted that it took 20 years for the city's jobless rate to fall back to the level seen before the Asian Financial Crisis, Sars and the global financial crisis.

Source: The Standard June 27, 2020 07:18 UTC