The seasonally adjusted unemployment rate in Hong Kong increased to 2.9 percent in the three months to July of 2019 from 2.8 percent in the previous period. It was the highest jobless rate since the three months to March period of 2018. The underemployment rate was unchanged at 1.0 percent, the same as in the previous period. Unemployment Rate in Hong Kong averaged 3.66 percent from 1981 until 2019, reaching an all time high of 8.50 percent in June of 2003 and a record low of 1 percent in July of 1989.
Unemployment Rate in Hong Kong is expected to be 2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Hong Kong to stand at 2.80 in 12 months time. In the long-term, the Hong Kong Unemployment Rate is projected to trend around 2.80 percent in 2020, according to our econometric models.