The unemployment rate in Macau edged up to 2.9 percent in July - September 2020 from 2.8 percent in the previous three-month period. It was the highest jobless rate since August - October 2010 period, as the number of unemployed increased by 300 to 11,800. Meantime, employment decreased by 700 to 391,800 mostly in the gaming & junket activities, construction and wholesale & retail trade while that in both restaurants & similar activities and hotels & similar activities rose. The labor force participation rate was 70.3 percent.
Unemployment Rate in Macau averaged 3.57 percent from 1996 until 2020, reaching an all time high of 7.10 percent in June of 2000 and a record low of 1.70 percent in January of 2014. This page provides the latest reported value for - Macao Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Macau Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
Unemployment Rate in Macau is expected to be 2.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Macau to stand at 2.80 in 12 months time. In the long-term, the Macau Unemployment Rate is projected to trend around 3.00 percent in 2021 and 3.10 percent in 2022, according to our econometric models.