Hong Kong's unemployment rate tipped to soar to 7 per cent

Hong Kong's unemployment rate tipped to soar to 7 per cent Hong Kong - Unemployment in Hong Kong was expected to surge in the first half of this year to its highest level since the 2003 outbreak of severe acute respiratory syndrome, or SARS, a survey released Tuesday predicted.

The survey by a human resources consultancy predicted the jobless rate in the former British colony would rise from its current 4.5 per cent to 7 per cent before the end of June.

The prediction was supported by a separate survey of companies in the city of 7 million that found recruitment in the fourth quarter of 2008 was at its lowest level in four years.

Unemployment in Hong Kong hit an all-time high of 8.7 per cent in the aftermath of the 2003 SARS crisis but recovered steadily to fall to just over 3 per cent last year. (dpa)

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