Hong Kong’s seasonally adjusted unemployment rate fell to 3.5 percent in the three months ending December 2022, from 3.7 percent in the previous September-November reading. It was the lowest jobless rate since the three month period of January 2020, as the number of unemployed persons decreased by 12,700 to 126,000, while employment rose by 8,300 to 3,665,300. Unemployment declined in most sectors, particularly in the consumption and tourism related sectors; construction sector; transportation sector; and education sector. Looking ahead, the government noted that the labor market should continue to improve, supported by the removal of most social distancing measures and gradual resumption of normal travel from China, however, it may be partly offset by tightened financial conditions. source: Census and Statistics Department, Hong Kong
Unemployment Rate in Hong Kong averaged 3.75 percent from 1981 until 2022, reaching an all time high of 8.50 percent in June of 2003 and a record low of 1.00 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 January of 2023.
Unemployment Rate in Hong Kong is expected to be 3.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hong Kong Unemployment Rate is projected to trend around 3.50 percent in 2024 and 3.40 percent in 2025, according to our econometric models.