The unemployment rate in Macau inched higher to 1.8 percent in May-July 2019 from 1.7 percent in the previous period, the highest level since August-October 2018 period. Total number of unemployed increased by 400 (6.2 percent) to 7.0 thousand while employment fell 100 to 387.2 thousand. Job gains were seen in wholesale & retail trade; hotels & similar activities; construction, and restaurant & similar activities; while losses were reported in gaming & junket activities. The labor force participation rate edged down to 70.3 in May-July from 70.4 percent in the prior period. In May-July 2018, the jobless rate stood at 1.8 percent. Unemployment Rate in Macau averaged 3.63 percent from 1996 until 2019, 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.
Unemployment Rate in Macau is expected to be 1.70 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 1.70 in 12 months time. In the long-term, the Macau Unemployment Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.