Hong Kong's seasonally adjusted unemployment rate eased to 6.4 percent in the February to April 2021 period, the lowest since the quarter ending November 2020, as the local epidemic continued to recede. On a non-seasonally adjusted basis, the number of unemployed persons declined by 12,300 to 247,500 and those employed increased by 7,900 to 3.622 million. Unemployment levels decreased in many major economic sectors, in particular, the combined jobless rate in the consumption and tourism related industries fell by 0.8 pp to 9.9 percent. Looking ahead, the Secretary of Labour and Welfare said the labor market will take time to visibly recover, as revenues of labor-intensive sectors were still well below pre-pandemic levels, and the recovery would continue to rely on the success of the vaccination program and the community’s efforts to contain the pandemic. source: Census and Statistics Department, Hong Kong
Unemployment Rate in Hong Kong averaged 3.72 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 June of 2021.
Unemployment Rate in Hong Kong is expected to be 6.50 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 6.00 in 12 months time. In the long-term, the Hong Kong Unemployment Rate is projected to trend around 6.00 percent in 2022 and 5.00 percent in 2023, according to our econometric models.