Hong Kong's unemployment rate held stable at 4.4% in the February-April period, remaining the lowest figure since the fourth quarter of 2008, the Census & Statistics Department says.

Compared to the January-March quarter, the underemployment rate fell from 2.2% to 2.1%.

Situation stable: Secretary for Labour & Welfare Matthew Cheung says the jobless rate remains at 4.4%, which is the lowest since the fourth quarter of 2008.

Total employment dropped from 3,496,700 to 3,490,400, while the labour force decreased from 3,657,300 to 3,655,200. The number of unemployed people grew from 160,600 to 164,800, while the number of underemployed people fell from 80,000 to 76,500.

Falls in the jobless rate were mainly found in the real estate, wholesale and transportation sectors. Rises were more apparent in the hotels, information and communications, foundation and superstructure and retail sectors.

The unemployment rate of young people aged 15 to 24 rose from 9.9% to 10.2%. Due to a slightly larger increase in the labour supply than employment, the jobless rate for the construction sector rose 0.6 of a percentage point to 8.6%.

Secretary for Labour & Welfare Matthew Cheung said Hong Kong's overall economic performance and sentiment remained generally positive with the labour market staying stable.

"On the short-term outlook, whether the unemployment rate can continue the downward trend since mid-2009 depends largely on the pace of economic growth, the labour demand and supply balance, and the number of jobs to be created," he said.

With the entry of fresh graduates and school leavers into the labour market in the next few months, and uncertainties in the economic and financial market situation in Europe, there will be pressure on the jobless rate, he added.

The Labour Department netted in April 58,359 vacancies from the private sector, down 11.5% on March but up 29.3% on last year. The number of successful placements rose to 11,444 from 10,521 in March.