Hong Kong January-March Unemployment Rate Falls to 3.2%; Nearly 3-Year Low

Hong Kong's unemployment rate unexpectedly fell to 3.2% in the three-month period ended March--the lowest level in nearly three years--as improving inbound tourism helped to tighten the labor market in consumption-and tourism-related segments, the Census and Statistics Department said Friday.

The seasonally adjusted jobless rate fell from 3.3% in the December-February period, and was below the median 3.3% forecast of five economists surveyed earlier by The Wall Street Journal.

The city's jobless rate has been hovering between 3.3% and 3.4% since May-July period of 2014. Hong Kong's unemployment rate last touched 3.2% was April-June period of 2014.

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

April 21, 2017 05:24 ET (09:24 GMT)