Hong Kong’s seasonally adjusted unemployment rate fell to 4.1 percent in the three months ending August of 2022, from 4.3 percent in the previous three-month period. It was the lowest jobless rate since the three months to January period, as the labour market continued to improve alongside the revival of domestic economic activities, partly supported by the Phase II Consumption Voucher Scheme. The number of unemployed persons decreased by 6,300 to 161,900, and the number of workers went up by 16,200 to 3,609,300. Unemployment fell in almost all sectors, primarily in the decoration, repair and maintenance for buildings sector; and arts, entertainment and recreation sector. 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 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 September of 2022.
Unemployment Rate in Hong Kong is expected to be 4.20 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 3.90 percent in 2023 and 3.50 percent in 2024, according to our econometric models.