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.

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Hong Kong Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
6.10 6.10 8.50 1.00 1981 - 2020 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-06-16 08:30 AM May 5.9% 5.2% 5.0%
2020-07-20 08:30 AM Jun 6.2% 5.9% 6.4% 6.3%
2020-08-19 08:30 AM Jul 6.1% 6.2% 6.3%
2020-09-17 08:30 AM Aug 6.1% 6.1% 6.3% 6.1%
2020-10-20 08:30 AM Sep 6.1% 6.0%
2020-11-17 08:30 AM Oct
2020-12-17 08:30 AM Nov


News Stream
Hong Kong Jobless Rate Steady at Near 15-Year High
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.
2020-09-17
Hong Kong Jobless Rate Falls to 6.1%
The seasonally adjusted unemployment rate in Hong Kong fell to 6.1 percent in the three months to July 2020 from 6.2 percent 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 rose by around 1,800 to 242,500 while the number of underemployed dropped by around 6,900 to 136,000. Meantime, the number of employed increased by around 16,600 to 3.637 million and the labour force went up by around 18,400 to 3.88 million. “The labour market showed some improvement as the local epidemic situation was largely under control in May and June, but will remain under pressure in the near term as the recent surges in cases have further clouded Hong Kong's economic outlook for the rest of the year”, Secretary for Labour and Welfare Dr Law said.
2020-08-19
Hong Kong Jobless Rate Jumps to Over 15-Year High
The seasonally adjusted unemployment rate in Hong Kong rose to 6.2 percent in the three months to June 2020 from 5.9 percent in the previous period, but below market expectations of 6.4 percent. It was the highest jobless rate since the three months to January 2005, amid the coronavirus pandemic. The number of unemployed persons increased by around 10,300 to 240,700 and the number of underemployed advanced by around 7,800 to 142,900. Meantime, the number of employed was 3.62 million about the same as in the prior period and the labour force went up by around 11,100 to 3.85 million. The unemployment rate increased across almost all the major economic sectors, with more distinct increases observed in the decoration, repair and maintenance for buildings sector; import and export trade sector; and warehousing and support activities for transportation sector.
2020-07-20
Hong Kong Jobless Rate Highest Since 2005
The seasonally adjusted unemployment rate in Hong Kong increased to 5.9 percent in the three months to May 2020 from 5.2 percent in the previous period. It was the highest jobless rate since the three months to April 2005, amid the coronavirus crisis. The number of unemployed persons rose by around 27,900 to 230,400 and the number of underemployed went up by around 16,500 to 135,100. Meantime, the number of employed dropped by around 37,900 to 3.62 million and the labour force declined by around 9,900 to 3.85 million. The unemployment rate increased across almost all the major economic sectors, with more distinct increases observed in the construction sector; retail, accommodation and food services sector; transportation sector; information and communications sector; education sector; and arts, entertainment and recreation sector.
2020-06-16

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.