The Unemployment Rate
The Unemployment Rate
Introduction
The unemployment rate became a hot topic in the past few months when it rose to
3.5 per cent, a recent high for almost 10 years. The jobless rate was higher
than the 3.2 per cent unemployment rate recorded in the May to July period. The
underemployment rate in the June to August period rose to 2.5 per cent from 2.3
per cent in the May to July period. Until recently, most workers who lost their
jobs were from the manufacturing sector. They were middle-aged factory workers
with few skills and little education. But in recent months a large number of
employees have been laid off in the retail and restaurant businesses.
Unemployment has spilled over to the service sector from manufacturing sector.
Hong Kong is facing a prolonged economic downturn.
The high unemployment rate has raised many social and economic problems. For
example, the number of people who commit suicide is increased. It is because
more people had lost their jobs for a long time. It......
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Approximate Pages: 18 (250 words per double-spaced page)
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