Hong Kong Disneyland - Hong Kong's September Jobless Rate Falls to 5.5%

Tuesday, October 25 2005 at 14:33

Hong Kong's unemployment rate fell to a four-year low in September as the opening of Walt Disney Co.'s $3.6 billion Hong Kong Disneyland theme park spurred hiring at hotels, stores and travel agencies.

The seasonally adjusted jobless rate slid to 5.5 percent from 5.7 percent in August, the government said in a statement. That's the lowest since October 2001 and below the median 5.6 percent forecast of 19 economists in a Bloomberg News survey.

Stores, hotels, restaurants, banks and trade services companies are expanding as rising tourist arrivals and booming trade power a two-year economic recovery following the 2003 severe acute respiratory syndrome epidemic. Hong Kong Disneyland had hired 18,000 people by its Sept. 12 opening.

Read more on how the opening of Hong Kong Disneyland influenced the Hong Kong economy at http://www.bloomberg.com/apps/news?pid=10000080&sid=aF0AZhCBmMfE&refer=asia.