The seasonally adjusted unemployment rate in Hong Kong rose to 3.3% in the three months to December 2019 from 3.2% in the prior period while markets had expected it to remain unchanged at 3.2%. It was the highest jobless rate since the three-month period to March 2017. The number of unemployed persons were down by around 1,400 to 124,000 and the number of underemployed was 47,400, the same as in the previous period. Meanwhile, the number of employed fell by 12,800 to 3.82 million and the labour force also decreased by around 14,200 to 3.94 million. The unemployment rate in the consumption and tourism-related sectors stayed at a three-year high of 5.2%, amid continued violence targeting shops and other business activities. Also, a deterioration was seen in the construction sector, especially activities involving decoration, repair & maintenance. The labour market is expected to be subject to even more pressure in the near term if the economy remains weak.

Unemployment Rate in Hong Kong averaged 3.65 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. 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. source: Census and Statistics Department, Hong Kong

Unemployment Rate in Hong Kong is expected to be 3.10 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 2.90 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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Hong Kong Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.30 3.20 8.50 1.00 1981 - 2019 percent Monthly
SA

Calendar GMT Actual Previous Consensus TEForecast
2019-10-18 08:30 AM Sep 2.9% 2.9% 2.9% 2.80%
2019-11-18 08:30 AM Oct 3.1% 2.9% 2.9% 2.80%
2019-12-17 08:30 AM Nov 3.2% 3.1% 3.1% 3.10%
2020-01-20 08:30 AM Dec 3.3% 3.2% 3.2% 3.20%
2020-02-18 08:30 AM Jan 3.3% 3.30%


News Stream
2019-12-17
Hong Kong Jobless Rate Highest Since 2017
The seasonally adjusted unemployment rate in Hong Kong rose to 3.2 percent in the three months to November 2019 from 3.1 percent in the prior period and above market expectations of 3.1 percent. It was the highest jobless rate since the three months to May 2017. The unemployment rate in the consumption and tourism-related sector increased to a three-year high of 5.2% while in the food and beverage sector, the joblessness rise to 6.2%, the highest in more than eight years. The labour market is expected to remain under pressure as the protests hit the economy and impact tourism and spending.

2019-11-18
Hong Kong Jobless Rate at Over 2-Year High of 3.1%
The seasonally adjusted unemployment rate in Hong Kong rose to 3.1 percent in the three months to October 2019 from 2.9 percent in the prior period and above market expectations of 2.9 percent. It was the highest jobless rate since the three months to September 2017. The jobless rate is expected to remain under pressure as political unrest and violence continue to take a heavy toll on the economy.

2019-10-18
Hong Kong Jobless Rate Steady at Over 1-1/2-Year High
The seasonally adjusted unemployment rate in Hong Kong was at 2.9 percent in the three months to September 2019, unchanged from the previous period and in line with market expectations. It remained the highest jobless rate since the three months to March 2018. Also, the underemployment rate held steady at 1 percent.

2019-09-17
Hong Kong Jobless Rate Flat at 1-1/2-Year High
The seasonally adjusted unemployment rate in Hong Kong stood at 2.9 percent in the three months to August 2019, remaining 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.

2019-08-19
Hong Kong Jobless Rate at 16-Month High of 2.9%
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.

2019-07-18
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 June 2019, remaining the lowest jobless rate since January 1998. Also, the underemployment rate stood at 1.0 percent, the same as in the previous period.


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.

Hong Kong Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.30 3.20 8.50 1.00 percent [+]
Employed Persons 3817.80 3830.60 3882.40 2370.60 Thousand [+]
Unemployed Persons 124.00 125.40 307.70 24.90 Thousand [+]
Labor Force Participation Rate 60.10 60.20 66.50 59.50 percent [+]
Productivity 107.20 106.40 107.20 63.40 points [+]
Job Vacancies 63032.00 73462.00 127765.00 15919.00 [+]
Wages 17304.00 17215.00 17304.00 10382.00 HKD/Month [+]
Wages in Manufacturing 15533.00 15477.00 15533.00 7611.00 HKD/Month [+]
Minimum Wages 37.50 34.50 37.50 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 5.90 6.20 10.40 1.90 percent [+]