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.