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.