The seasonally adjusted unemployment rate in Hong Kong was unchanged at 2.8 percent in the three months to December of 2018, remaining the lowest jobless rate since January of 1998. Also, the underemployment rate was steady at 1.2 percent, the same as in the previous period. Unemployment Rate in Hong Kong averaged 3.67 percent from 1981 until 2018, reaching an all time high of 8.50 percent in June of 2003 and a record low of 1 percent in July of 1989.

Unemployment Rate in Hong Kong is expected to be 2.80 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 2.80 in 12 months time. In the long-term, the Hong Kong Unemployment Rate is projected to trend around 2.90 percent in 2020, according to our econometric models.

Hong Kong Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-10-19 08:30 AM Unemployment Rate 2.8% 2.8% 2.8%
2018-11-16 08:30 AM Unemployment Rate 2.8% 2.8% 2.8%
2018-12-18 08:30 AM Unemployment Rate 2.8% 2.8% 2.8%
2019-01-17 08:30 AM Unemployment Rate 2.8% 2.8% 2.80%
2019-02-21 08:30 AM Unemployment Rate 2.8% 3.00%
2019-03-19 08:30 AM Unemployment Rate 3.00%
2019-04-18 08:30 AM Unemployment Rate 3.00%



Hong Kong Jobless Rate Steady at Near 21-Year Low

The seasonally adjusted unemployment rate in Hong Kong was unchanged at 2.8 percent in the three months to December of 2018, remaining the lowest jobless rate since January of 1998. Also, the underemployment rate was steady at 1.2 percent, the same as in the previous period.

On a non-seasonally adjusted basis, the number of unemployed persons declined by 5,400 to 105,400 in October-December 2018 when compared with the previous period, and the number of underemployed dropped by 1,400 to 44,500 persons. On a yearly basis, the unemployment situation continued to improve for most of the main services sector, mainly in the retail, accommodation and food services sectors, amid the expansion in inbound tourism.

On the other hand, the number of employed increased by 5,400 from the previous three-month period to 3,873 thousand and the labour force participation rate was unchanged at 60.9 percent.

Looking ahead, "The labour market is expected to remain tight in the near term. Yet, the Government will stay vigilant and monitor the developments closely in view of the various challenges facing the local economy." the Secretary for Labour and Welfare, Dr Law Chi-kwong, said. 


Census and Statistics Department | Stefanie Moya | stefanie.moya@tradingeconomics.com
1/17/2019 8:50:28 AM



Hong Kong Labour Last Previous Highest Lowest Unit
Unemployment Rate 2.80 2.80 8.50 1.00 percent [+]
Employed Persons 3872.60 3867.20 3882.40 2370.60 Thousand [+]
Unemployed Persons 105.40 110.80 307.70 24.90 Thousand [+]
Labor Force Participation Rate 60.90 60.90 66.50 59.50 percent [+]
Productivity 166.00 160.10 166.00 99.40 Index Points [+]
Job Vacancies 78341.00 79203.00 127765.00 15919.00 [+]
Wages 16479.00 15897.00 16479.00 10382.00 HKD/Month [+]
Wages in Manufacturing 222.60 219.60 222.60 141.80 Index Points [+]
Minimum Wages 34.50 34.50 34.50 28.00 HKD/Hour [+]
Population 7.41 7.37 7.41 3.08 Million [+]
Retirement Age Men 65.00 65.00 65.00 60.00 [+]
Retirement Age Women 65.00 65.00 65.00 60.00 [+]
Youth Unemployment Rate 4.90 5.30 10.40 1.90 percent [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.80 2.80 8.50 1.00 1981 - 2018 percent Monthly
SA




Country Last Previous
South Africa 27.50 Sep/18
Spain 14.55 Sep/18
Brazil 11.60 Nov/18
Turkey 11.60 Oct/18
Italy 10.50 Nov/18
France 9.10 Sep/18
Argentina 9.00 Sep/18
Euro Area 7.90 Nov/18
Saudi Arabia 6.00 Jun/18
Canada 5.60 Dec/18
Indonesia 5.34 Sep/18
Australia 5.10 Nov/18
Russia 4.80 Nov/18
United Kingdom 4.10 Oct/18
United States 3.90 Dec/18
China 3.82 Sep/18
South Korea 3.80 Dec/18
Netherlands 3.60 Dec/18
India 3.52 Dec/17
Germany 3.30 Nov/18
Mexico 3.30 Nov/18
Switzerland 2.70 Dec/18
Japan 2.50 Nov/18
Singapore 2.10 Sep/18


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