The unemployment rate in Macau rose to 2.4 percent in March - May 2020 from 2.2 percent in the previous three-month period. It was the highest jobless rate since September - November 2011 period, as the number of unemployed increased by 800 to 9,700. Meantime, employment went up by 400 to 394,600 mostly in the construction sector while that in retail trade and hotels & similar activities declined. The labor force participation rate was 70.5 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 July of 2020.
Unemployment Rate in Macau is expected to be 2.50 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 2.90 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.