HONG KONG, Nov 16 (AP) -- Hong Kong's jobless rate fell in the three-month period from August through October to 4.5 percent, the lowest since 2001, the government said Thursday.

The seasonally adjusted unemployment rate declined from 4.7 percent recorded in the July-September period, the Census and Statistics Department said in a statement.

Total employment was at an all-time high of 3,500,300, the statement said.

The labor market was buoyant, as sectors including real estate, insurance and retail all saw a fall in joblessness, the statement said.

In the near term, the employment market "will mainly hinge on the growth of business activity and job creation in the corporate sector in the run-up to the Christmas and New Year holidays," it said.