Hong Kong Unemployment Rate

The seasonally adjusted unemployment rate in Hong Kong was unchanged at 2.8 percent in the three months to May 2019, remaining at the lowest level since January 1998. Also, 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.

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Calendar	GMT		Actual	Previous	Consensus	TEForecast
2019-03-19	08:30 AM	Unemployment Rate	2.8%	2.8%		2.8%
2019-04-18	08:30 AM	Unemployment Rate	2.8%	2.8%		2.8%
2019-05-20	08:30 AM	Unemployment Rate	2.8%	2.8%	2.8%	2.8%
2019-06-19	08:30 AM	Unemployment Rate	2.8%	2.8%		2.8%
2019-07-18	08:30 AM	Unemployment Rate		2.8%		3.00%
2019-08-19	08:30 AM	Unemployment Rate				2.80%
2019-09-17	08:30 AM	Unemployment Rate				2.80%

Hong Kong Jobless Rate Unchanged at Over 21-Year Low

The seasonally adjusted unemployment rate in Hong Kong stood at 2.8 percent in the three months to March 2019, remaining the lowest jobless rate since January 1998. Also, the underemployment rate was unchanged at 1.0 percent, the same as in the previous period.

On a non-seasonally adjusted basis, the number of unemployed persons went up by 7,900 to 110,400 in January-March 2019 when compared with the prior period, while the number of underemployed dropped by 1,400 to 38,900 persons. On a yearly basis, the unemployment situation continued to improve for many of the main services sector, notably in the retail, accommodation and food services sectors, amid an expansion in inbound tourism.

Meantime, the number of employed rose by 6,300 to 3,867 thousand and the labour force participation rate was steady at 60.7 percent.

Looking ahead, "The labour market is expected to remain largely stable in the near term. The Government will stay vigilant to how the evolving external uncertainties will affect the labour market going forward." the Secretary for Labour and Welfare, Dr Law Chi-kwong, said.

Census and Statistics Department | Stefanie Moya | stefanie.moya@tradingeconomics.com
4/18/2019 8:44:15 AM

News

Hong Kong Jobless Rate Steady at Over 21-Year Low
The seasonally adjusted unemployment rate in Hong Kong was unchanged at 2.8 percent in the three months to February 2019, remaining the lowest jobless rate since January 1998. Meantime, the underemployment rate fell to 1.0 percent in the December-February period from 1.1 percent in the prior period.
Published on 2019-03-19

Hong Kong Jobless Rate Unchanged at 21-Year Low
The seasonally adjusted unemployment rate in Hong Kong stood at 2.8 percent in the three months to January 2019, remaining the lowest jobless rate since January 1998. The underemployment also remained unchanged at 1.1 percent in the November-January period.
Published on 2019-02-21

Hong Kong Jobless Rate Steady at Near 21-Year Low
The seasonally adjusted unemployment rate in Hong Kong was unchanged at 2.8 percent in the three months to December of 2018, remaining the lowest jobless rate since January of 1998. Also, the underemployment rate was steady at 1.2 percent, the same as in the previous period.
Published on 2019-01-17

Hong Kong Jobless Rate Unchanged at Near 21-Year Low
The seasonally adjusted unemployment rate in Hong Kong stood at 2.8 percent in the three months to November of 2018, remaining the lowest jobless rate since January of 1998. The underemployment rate also remained unchanged at 1.2 percent, the same as in the August-October period.
Published on 2018-12-18

Hong Kong Labour	Last	Previous	Highest	Lowest	Unit
Unemployment Rate	2.80	2.80	8.50	1.00	percent	[+]
Employed Persons	3869.10	3865.00	3882.40	2370.60	Thousand	[+]
Unemployed Persons	114.10	112.30	307.70	24.90	Thousand	[+]
Labor Force Participation Rate	60.70	60.70	66.50	59.50	percent	[+]
Productivity	166.80	160.10	166.80	99.40	Index Points	[+]
Job Vacancies	79579.00	78186.00	127765.00	15919.00		[+]
Wages	16791.00	16786.00	16791.00	10382.00	HKD/Month	[+]
Wages in Manufacturing	223.40	222.60	223.40	141.80	Index Points	[+]
Minimum Wages	34.50	34.50	34.50	28.00	HKD/Hour	[+]
Population	7.48	7.41	7.48	3.08	Million	[+]
Retirement Age Men	65.00	65.00	65.00	60.00		[+]
Retirement Age Women	65.00	65.00	65.00	60.00		[+]
Youth Unemployment Rate	5.00	4.80	10.40	1.90	percent	[+]

In Hong Kong, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. 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 - actual data, historical chart and calendar of releases - was last updated on June of 2019.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	2.80	2.80	8.50	1.00	1981 - 2019	percent	Monthly	SA

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Country	Last		Previous	Range
South Africa	27.60	Mar/19	27.1	31.2 : 21.5	%
Spain	14.70	Mar/19	14.45	26.94 : 4.41	%
Turkey	14.10	Mar/19	14.7	14.8 : 7.3	%
Brazil	12.50	Apr/19	12.7	13.7 : 6.2	%
Italy	10.20	Apr/19	10.2	13.1 : 5.8	%
Argentina	10.10	Mar/19	9.1	20.8 : 5.9	%
France	8.70	Mar/19	8.8	10.7 : 7.2	%
Euro Area	7.60	Apr/19	7.7	12.1 : 7.3	%
Saudi Arabia	6.00	Dec/18	6	6.3 : 4.35	%
Canada	5.40	May/19	5.7	13.1 : 2.9	%
Australia	5.20	May/19	5.2	11.2 : 4	%
Indonesia	5.01	Mar/19	5.34	11.24 : 2	%
Russia	4.50	May/19	4.7	14.1 : 4.5	%
South Korea	4.00	May/19	4.1	7.1 : 3	%
United Kingdom	3.80	Apr/19	3.8	12 : 3.4	%
China	3.67	Mar/19	3.8	4.3 : 3.67	%
United States	3.60	May/19	3.6	10.8 : 2.5	%
India	3.53	Dec/18	3.52	8.3 : 3.41	%
Mexico	3.50	Apr/19	3.2	6.42 : 2.22	%
Netherlands	3.30	May/19	3.3	7.9 : 3.3	%
Germany	3.20	Apr/19	3.2	11.5 : 0.4	%
Japan	2.40	Apr/19	2.5	5.5 : 1	%
Switzerland	2.30	May/19	2.4	5.7 : 1.5	%
Singapore	2.20	Mar/19	2.2	6 : 1.4	%