XN000022-1987-07-15 — Page 51

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WEDNESDAY, JULY 15, 1987

"ULTIMATELY THE TEST WILL BE

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HOW WELL THE ECONOMY PERFORMS IN THE NEXT FEW YEARS AND HOW STRONG OTHER PARTS OF THE STRUCTURE OF THE FUTURE ARE CONSTRUCTED, SUCH AS THE BASIC LAW, TOGETHER WITH ALL THOSE COMPONENTS WHICH WILL INSTILL CONFIDENCE IN THE PEOPLE OF HONG KONG," HE SAID.

TURNING TO THE FUTURE OF HONG KONG, SIR DAVID POINTED OUT THAT THERE WERE MANY GROUNDS FOR CONFIDENCE.

IN ADDITION TO THE JOINT DECLARATION ITSELF AND THE MEASURES WHICH HAD ALREADY BEEN TAKEN TO IMPLEMENT IT, HE SAID PRACTICAL STEPS HAD BEEN TAKEN AND WERE BEING TAKEN STEADILY TO PUT IN PLACE THOSE VERY IMPORTANT LINKS BETWEEN HONG KONG WITH WORLD ORGANISATIONS AND ITS TRADING PARTNERS.

"THERE IS THE VISIBLE PRESENCE IN HONG KONG OF 75 OUT OF 100 LEADING BANKS IN THE WORLD; THERE ARE OUR GROWING TRADING AND INVESTMENT LINKS WITH MAINLAND CHINA; AND THERE IS THE IMPORTANCE OF THIS MEETING PLACE BETWEEN EAST AND WEST TO THE REST OF THE WORLD," SIR DAVID NOTED.

"IT IS A CHALLENGE FOR THE PEOPLE OF HONG KONG AND OPPORTUNITY FOR THE WORLD," HE STRESSED.

UNEMPLOYMENT AND UNDEREMPLOYMENT STATISTICS FOR MARCH

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MAY 1987

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BOTH THE UNEMPLOYMENT AND THE UNDEREMPLOYMENT SITUATION REMAINED STABLE IN THE THREE MONTHS MARCH MAY 1987,

COMPARED WITH THE THREE MONTHS ENDING FEBRUARY 1987, ACCORDING TO THE LATEST LABOUR FORCE STATISTICS RELEASED TODAY (WEDNESDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

THE SEASONALLY ADJUSTED UNEMPLOYMENT RATE FOR MARCH MAY 1987 WAS AT A VERY LOW LEVEL OF 1.9 PER CENT, COMPARED WITH 2 PER CENT FOR THE THREE MONTHS ENDING FEBRUARY 1987 AND 3 PER CENT FOR THE SAME PERIOD A YEAR EARLIER. THE DECREASE OF 0.1 PERCENTAGE POINT BELOW THE PREVIOUS THREE MONTH PERIOD IS STATISTICALLY NOT SIGNIFICANT, WHILE THE DECREASE OF 1.1 PERCENTAGE POINTS BELOW THE SAME PERIOD A YEAR EARLIER IS STATISTICALLY SIGNIFICANT.

THE NUMBER OF UNEMPLOYED PERSONS IN MARCH

MAY 1987 WAS ESTIMATED AT 50,500, LESS THAN THE FIGURES OF 52,600 FOR THE THREE MONTHS ENDING FEBRUARY 1987 AND OF 80,300 FOR THE THREE MONTHS MAY 1986.

ENDING

THE UNDEREMPLOYMENT