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.

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Hong Kong Unemployment Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-12-16 08:30 AM Nov 3.7% 3.8% 3.8%
2023-01-19 08:30 AM Dec 3.5% 3.7% 3.7%
2023-02-16 08:30 AM Jan 3.5% 3.5%


Related Last Previous Unit Reference
Unemployment Rate 3.50 3.70 percent Dec 2022
Unemployed Persons 126.00 138.70 Thousand Dec 2022
Employed Persons 3665.30 3657.00 Thousand Dec 2022
Labor Force Participation Rate 58.30 58.40 percent Dec 2022
Productivity 110.20 107.40 points Dec 2021
Job Vacancies 74838.00 62498.00 Sep 2022
Wages 17472.00 17320.00 HKD/Month Sep 2022
Wages in Manufacturing 15847.00 15795.00 HKD/Month Sep 2022
Population 7.41 7.47 Million Dec 2021
Youth Unemployment Rate 6.30 7.30 percent Dec 2022

Hong Kong Unemployment Rate
In Hong Kong, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
Actual Previous Highest Lowest Dates Unit Frequency
3.50 3.70 8.50 1.00 1981 - 2022 percent Monthly
SA

News Stream
Hong Kong Jobless Rate at Near 3-Year Low
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.
2023-01-19
Hong Kong Jobless Rate at 33-Month Low
Hong Kong’s seasonally adjusted unemployment rate edged down to 3.7 percent, from 3.8 percent in the previous month, reflecting a continuous improvement in the labor market. It was the lowest jobless rate since February of 2020 as the number of unemployed persons decreased by 8,500 to 138,900. Unemployment fell in most of the major economic sectors, more notably in the foundation & superstructure sector, decoration, repair & maintenance for buildings sector, and food & beverage service activities sector. Meanwhile, the number of workers went up by 8,400 to 3,657,000.
2022-12-16
Hong Kong Jobless Rate Lowest in Over 2 Years
Hong Kong’s seasonally adjusted unemployment rate fell to 3.8% in the three months ending October of 2022, from 3.9% in the previous July-September reading. It was the lowest jobless rate since the three months period of February 2020, reflecting the continued revival of domestic economic activities, supported by a generally stable local epidemic situation and the Consumption Voucher Scheme. The number of unemployed persons decreased by 7,900 to 147,400, while employment rose by 19,700 to 3,648,600. Unemployment decreased in most sectors, primarily in the decoration, repair and maintenance for buildings sector; retail sector; and food and beverage service activities sector.
2022-11-17