The seasonally adjusted unemployment rate in Hong Kong was unchanged at 6.1 percent in the three months to August 2020, the same as in the previous period. Still, it remained among the highest rates since the three months to January 2005, amid the coronavirus pandemic. The number of unemployed persons (not seasonally adjusted) rose by around 5,800 to 248,300 and the number of underemployed persons also increased by around 13,200 to 149,200. Employment went up by around 3,400 to 3,640,400 and the labour force also increased by around 9,300 to 3,888,800. "While the local epidemic situation has started to ease gradually in September, the global pandemic is still fluctuating in a rising trend and the overall economic situation remains weak. The labour market will remain under pressure in the near term", the Secretary for Labour and Welfare said.
Unemployment Rate in Hong Kong averaged 3.67 percent from 1981 until 2020, reaching an all time high of 8.50 percent in June of 2003 and a record low of 1 percent in July of 1989. This page provides the latest reported value for - Hong Kong Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Hong Kong Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Census and Statistics Department, Hong Kong
Unemployment Rate in Hong Kong is expected to be 6.00 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 5.50 in 12 months time. In the long-term, the Hong Kong Unemployment Rate is projected to trend around 5.00 percent in 2021 and 4.00 percent in 2022, according to our econometric models.