Hong Kong's seasonally adjusted unemployment rate rose to 7.2 percent in December 2020-February 2021, the highest since the three months to March 2004, as the labor market remained under notable pressure due to the COVID-19 crisis. On a non-seasonally adjusted basis, the number of unemployed persons increased by around 8,300 to 261,600, while employment decreased by around 20,500 to 3.61 million and the labor force declined by around 12,300 to 3.87 million. Unemployment levels increased across almost all the major economic sectors, with more distinct increases observed in the import and export trade sector; postal and courier activities sector; education sector; and arts, entertainment and recreation sector. source: Census and Statistics Department, Hong Kong

Unemployment Rate in Hong Kong averaged 3.71 percent from 1981 until 2021, 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 April of 2021.

Unemployment Rate in Hong Kong is expected to be 7.00 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 6.00 in 12 months time. In the long-term, the Hong Kong Unemployment Rate is projected to trend around 6.00 percent in 2022 and 5.00 percent in 2023, according to our econometric models.

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Hong Kong Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
7.20 7.00 8.50 1.00 1981 - 2021 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-12-17 08:30 AM Nov 6.3% 6.4% 6.5%
2021-01-19 08:30 AM Dec 6.6% 6.3% 6.5%
2021-02-18 08:30 AM Jan 7% 6.6% 6.5%
2021-03-16 08:30 AM Feb 7.2% 7% 7.5% 7.3%
2021-04-22 08:30 AM Mar 7.2% 7%
2021-05-20 08:30 AM Apr
2021-06-17 08:30 AM May
2021-07-20 08:30 AM Jun


News Stream
Hong Kong Jobless Rate Rises to 17-Year High
Hong Kong's seasonally adjusted unemployment rate rose to 7.2 percent in December 2020-February 2021, the highest since the three months to March 2004, as the labor market remained under notable pressure due to the COVID-19 crisis. On a non-seasonally adjusted basis, the number of unemployed persons increased by around 8,300 to 261,600, while employment decreased by around 20,500 to 3.61 million and the labor force declined by around 12,300 to 3.87 million. Unemployment levels increased across almost all the major economic sectors, with more distinct increases observed in the import and export trade sector; postal and courier activities sector; education sector; and arts, entertainment and recreation sector.
2021-03-16
Hong Kong Jobless Rate at Near 17-Year High
The seasonally adjusted unemployment rate in Hong Kong rose to 7% in the three months to January of 2021 from 6.6% in the previous period. It is the highest jobless rate since the February-April quarter of 2004, amid the adverse effects of a prolonged pandemic and tighter lockdown restrictions. The number of unemployed persons (not seasonally adjusted) increased by around 7,500 to 253,300 while employment decreased by around 17,100 to 3.631 million. Unemployment went up across almost all the major economic sectors, with retail, accommodation and food services, education and arts, entertainment & recreation among the most affected. "Although the fourth wave of local epidemic has shown signs of easing lately, the labour market will remain under pressure in the near term as it will take time for economic activities to return to normal", the Secretary for Labour and Welfare said.
2021-02-18
Hong Kong Unemployment Rate at 16-Year High
The unemployment rate in Hong Kong increased to 6.6 percent in the three months to December of 2020 from 6.3 percent in the previous period. It is the highest jobless rate since the last quarter of 2004 as the coronavirus pandemic continues to weigh on local consumption sentiment and disrupt economic activities. The number of unemployed rose by 1500 to 246 thousand and the employed population decreased by 2400 to 3.65 million. Unemployment went up across almost all the major economic sectors, with retail, accommodation and food services recording the main increases.
2021-01-19
Hong Kong Jobless Rate Drops to 6.3%
The seasonally adjusted unemployment rate in Hong Kong edged down to 6.3% in the three months to November of 2020 from 6.4% in the previous period. The number of unemployed persons (not seasonally adjusted) decreased by around 13,500 to 244,300 in September-November 2020. Over the same period, the number of underemployed persons also decreased by around 14,900 to 133,100. Meantime, employment increased by around 22,400 to 3.650 million.The labour force also increased by around 8,900 to 3.894 million. The unemployment rate decreased across almost all the major economic sectors, in particular retail, accommodation and food services, as well as education and the arts, entertainment and recreation sector. "Given the fourth wave of local epidemic of late, the pressure on the labour market is likely to increase again in the near term", the Secretary for Labour and Welfare said.
2020-12-17

Hong Kong Unemployment Rate
In Hong Kong, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.