Unemployment in Hong Kong declined to the lowest record in a year in the three months ended February, adding to signs of recovery in Hong Kong economy along with improvements in all economic activities and rising a boom in tourism, which helped retail sales to rise for the fifth straight month.

Hong Kong economy released the seasonally unemployment rate reading for February and it declined to 4.6% compared with a previous 4.9% in January, while the current reading came better than forecasts that referred to 4.8%.

Matthew Cheung secretary for labor and welfare noted after today's reading that indicated to improvement in business confidence and markets that help to create new jobs, and adding that he expects better conditions in the labor market in the upcoming period.

Cheung also pointed about the remarkable decline of unemployment rate which is better than expected, as a result of increasing employment, noteworthy that employers added about 7,900 jobs. Some analysts expected the decline in unemployment with a global economic recovery, as they think unemployment will decline to 4.3% by the end of the year.

Mr. John Tsang the Minister of Finance said last week that he remains "cautiously optimistic" towards economic recovery, especially that recovery is still in its initial stages, should be noted that Mr. John Tsang, announced last month the budget for the next fiscal year which begins in April with a value of HK$20.4 billion to support the growth of the economy, and is other than bias-governmental organizations that include the reduction of taxes on personal income and property.

On the other hand, the tourism recovery in Hong Kong, with a number of tourist arrivals to Hong Kong for about 2.96 million people during January, or 5.9% from what it was in the same period last year, which supported retail sales for the fifth straight month the thing which also supports the expectation that also help in rising the rates of employment in Hong Kong during the coming period, especially with the high demand.