The seasonally adjusted unemployment rate in Hong Kong stood at 2.8 percent in the three months to October 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 July-September period. Unemployment Rate in Hong Kong averaged 3.67 percent from 1981 until 2018, 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 2.90 percent in 2020, according to our econometric models.

Hong Kong Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-08-17 08:30 AM Unemployment Rate 2.8% 2.8% 2.8%
2018-09-18 08:30 AM Unemployment Rate 2.8% 2.8% 2.8%
2018-10-19 08:30 AM Unemployment Rate 2.8% 2.8% 2.8%
2018-11-16 08:30 AM Unemployment Rate 2.8% 2.8% 2.8%
2018-12-18 08:30 AM Unemployment Rate 2.8% 2.8%
2019-01-17 08:30 AM Unemployment Rate 2.8%
2019-02-22 08:30 AM Unemployment Rate



Hong Kong Jobless Rate Steady at Over 20-Year Low



The seasonally adjusted unemployment rate in Hong Kong stood at 2.8 percent in the three months to October 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 July-September period.

On a non-seasonally adjusted basis, the number of unemployed persons went down by 1,800 to 116,000 in August-October 2018 when compared with the previous period, and the number of underemployed decreased by 600 to 46,700 persons. On a yearly basis, the unemployment situation continued to improve for most of the main services sector, particularly in the accommodation services, amid the buoyant performance of inbound tourism. 

Meanwhile, the number of employed dropped by 3 thousand from the previous three-month period to 3,872 thousand and the labour force participation rate edged down to 61.1 percent.

Looking ahead, "The labour market is expected to stay tight in the near term. Yet, the employment outlook beyond the near term will hinge on how the increased external headwinds will affect the local economy going forward. The Government will stay vigilant and monitor the situation closely. ", the Secretary for Labour and Welfare, Dr Law Chi-kwong, said. 


Census and Statistics Department | Agna Gabriel | agna.gabriel@tradingeconomics.com
11/16/2018 9:03:37 AM



Hong Kong Labour Last Previous Highest Lowest Unit
Unemployment Rate 2.80 2.80 8.50 1.00 percent [+]
Employed Persons 3872.60 3874.60 3882.40 2370.60 Thousand [+]
Unemployed Persons 116.00 117.80 307.70 24.90 Thousand [+]
Labor Force Participation Rate 61.10 61.20 66.50 59.50 percent [+]
Productivity 166.00 160.10 166.00 99.40 Index Points [+]
Job Vacancies 79203.00 76875.00 127765.00 15919.00 [+]
Wages 16479.00 15897.00 16479.00 10382.00 HKD/Month [+]
Wages in Manufacturing 219.60 215.00 219.60 141.80 Index Points [+]
Minimum Wages 34.50 34.50 34.50 28.00 HKD/Hour [+]
Population 7.41 7.37 7.41 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 6.30 10.40 1.90 percent [+]


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. 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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
2.80 2.80 8.50 1.00 1981 - 2018 percent Monthly
SA




Country Last Previous
South Africa 27.50 Sep/18
Spain 14.55 Sep/18
Brazil 11.70 Oct/18
Turkey 11.10 Aug/18
Italy 10.60 Oct/18
Argentina 9.60 Jun/18
France 9.10 Sep/18
Euro Area 8.10 Oct/18
Saudi Arabia 6.00 Jun/18
Canada 5.60 Nov/18
Indonesia 5.34 Sep/18
Australia 5.00 Oct/18
Russia 4.70 Oct/18
United Kingdom 4.10 Oct/18
China 3.82 Sep/18
South Korea 3.80 Nov/18
Netherlands 3.70 Oct/18
United States 3.70 Nov/18
India 3.52 Dec/17
Germany 3.30 Oct/18
Mexico 3.20 Oct/18
Switzerland 2.50 Nov/18
Japan 2.40 Oct/18
Singapore 2.10 Sep/18


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