Hong Kong's seasonally adjusted unemployment rate fell to 5.5 percent in the April to June period of 2021, the lowest since the quarter ending April of 2020, as the economy continued to recover alongside a receding local epidemic and improving external conditions. On a non-seasonally adjusted basis, the number of unemployed persons declined by 20,200 to 213,100 and those employed increased by 9,700 to 3.640 million. Unemployment levels decreased in all the major economic sectors, more distinctly in the construction; international trade & wholesale sectors; retail; accommodation & food services; and arts, entertainment & recreation sectors. Looking ahead, the Secretary of Labour and Welfare said the labor market should improve further with the economic recovery, partly supported by the Consumption Voucher Scheme and the continued participation of the community in the vaccination program. source: Census and Statistics Department, Hong Kong
Unemployment Rate in Hong Kong averaged 3.73 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 July of 2021.
Unemployment Rate in Hong Kong is expected to be 6.00 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 5.50 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.