Hong Kong's seasonally adjusted unemployment rate fell to 4.7 percent in the June to August period of 2021 from 5 percent in the previous 3-month period. It was the lowest jobless rate since the March of 2020, as the economy stayed on track for recovery. On a non-seasonally adjusted basis, the number of unemployed persons shrank by 10,700 to 187,700 and those employed increased by 1,700 to 3.6517 million. Unemployment levels decreased in all the major economic sectors, more distinctly in retail; accommodation services; construction; and transportation. Looking ahead, the Secretary of Labour and Welfare said the labor market should improve further with the economic recovery, whereas the Government’s disbursement of electronic consumption vouchers will support the consumption-related activities. Still, the spread of the Delta variant is a key source of global uncertainty, so further labor markets improvements remain anchored on the widespread vaccination. source: Census and Statistics Department, Hong Kong

Unemployment Rate in Hong Kong averaged 3.74 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 September of 2021.

Unemployment Rate in Hong Kong is expected to be 4.60 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 4.00 percent in 2022 and 3.80 percent in 2023, according to our econometric models.

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Hong Kong Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.70 5.00 8.50 1.00 1981 - 2021 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-06-17 08:30 AM May 6% 6.4% 6.4%
2021-07-20 08:30 AM Jun 5.5% 6% 6%
2021-08-18 08:30 AM Jul 5% 5.5% 5.5%
2021-09-16 08:30 AM Aug 4.7% 5% 4.5%
2021-10-21 08:30 AM Sep 4.7%
2021-11-16 08:30 AM Oct
2021-12-16 08:30 AM Nov


News Stream
Hong Kong Jobless Rate at 18-Month Low
Hong Kong's seasonally adjusted unemployment rate fell to 4.7 percent in the June to August period of 2021 from 5 percent in the previous 3-month period. It was the lowest jobless rate since the March of 2020, as the economy stayed on track for recovery. On a non-seasonally adjusted basis, the number of unemployed persons shrank by 10,700 to 187,700 and those employed increased by 1,700 to 3.6517 million. Unemployment levels decreased in all the major economic sectors, more distinctly in retail; accommodation services; construction; and transportation. Looking ahead, the Secretary of Labour and Welfare said the labor market should improve further with the economic recovery, whereas the Government’s disbursement of electronic consumption vouchers will support the consumption-related activities. Still, the spread of the Delta variant is a key source of global uncertainty, so further labor markets improvements remain anchored on the widespread vaccination.
2021-09-16
Hong Kong Jobless Rate Nears Pre-Pandemic Levels
Hong Kong's seasonally adjusted unemployment rate fell to 5 percent in the May to July period of 2021 from 5.5 percent in the previous 3-month period. It was the lowest jobless rate since the first quarter of 2020, as the economy stayed on track for recovery. On a non-seasonally adjusted basis, the number of unemployed persons shrank by 14,700 to 198,400 and those employed increased by 9,900 to 3.650 million. Unemployment levels decreased in all the major economic sectors, more distinctly in the construction; 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, alongside support from the Consumption Voucher Scheme, while relying on a continued participation of the community in the vaccination program to fend off risks stemming from more infectious coronavirus variants.
2021-08-18
Hong Kong Jobless Rate Retreats to 14-Month Low
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.
2021-07-20
Hong Kong Jobless Rate Falls to 1-Year Low
Hong Kong's seasonally adjusted unemployment rate retreated to 6.0 percent in the March to May period of 2021, the lowest since the same period of 2020, amid the economic recovery and the receding local epidemic. On a non-seasonally adjusted basis, the number of unemployed persons declined by 14,200 to 233,300 and those employed increased by 8,400 to 3.630 million. Unemployment levels decreased in all the major economic sectors, more distinctly in the construction, retail, accommodation, and food sectors. Looking ahead, the Secretary of Labour and Welfare said the recovery will be uneven across sectors and the evolution of the global pandemic remained a key factor of uncertainty, yet the pressures on the labour market should ease gradually as the economy recovers.
2021-06-17

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.