The seasonally adjusted unemployment rate in Hong Kong was unchanged at a 20-year low of 2.8 percent in the three months to September 2018. The underemployment rate, however, edged up to 1.2 percent, from 1.1 percent 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.

Hong Kong Unemployment Rate
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Hong Kong Jobless Rate Remains Lowest in Over 20 Years


The seasonally adjusted unemployment rate in Hong Kong was unchanged at a 20-year low of 2.8 percent in the three months to September 2018. The underemployment rate, however, edged up to 1.2 percent from 1.1 percent in the June-August period.

On a non-seasonally adjusted basis, the number of unemployed persons went up by 400 to 117,800 in July-September 2018 when compared with the previous period, and the number of underemployed increased by around 1,800 to 47,300 persons. Nevertheless, the unemployment situation continued to improve for most of the main service sectors, particularly in the accommodation services, decoration, repair and maintenance for buildings, as well as information and communications sectors.

Meanwhile, the number of employed dropped by 7.8 thousand from the previous three-month period to 3.88 million and the labour force participation rate edged down to 61.2 percent.

Looking ahead, "Overall labour market conditions will likely remain favourable in the near term. Nonetheless, the Government will continue to monitor closely how the increasing external headwinds will affect the local labour market going forward." the Secretary for Labour and Welfare, Dr Law Chi-kwong, said.


Census and Statistics Department | Gabriela Costa | gabriela.costa@tradingeconomics.com
10/19/2018 8:55:44 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-08-17 08:30 AM Unemployment Rate 2.8% 2.8% 2.8%
2018-09-18 08:30 AM Unemployment Rate 2.8% 2.8% 2.8%
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%
2018-12-18 08:30 AM Unemployment Rate 2.8%


Hong Kong Labour Last Previous Highest Lowest Unit
Unemployment Rate 2.80 2.80 8.50 1.00 percent [+]
Employed Persons 3874.60 3882.40 3882.40 2370.60 Thousand [+]
Unemployed Persons 117.80 117.40 307.70 24.90 Thousand [+]
Labor Force Participation Rate 61.20 61.40 66.50 59.50 percent [+]
Productivity 166.00 160.10 166.00 99.40 Index Points [+]
Job Vacancies 79203.00 76875.00 127765.00 15919.00 [+]
Wages 16479.00 15897.00 16479.00 10382.00 HKD/Month [+]
Wages in Manufacturing 219.60 215.00 219.60 141.80 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 6.30 6.20 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 November of 2018.

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




Country Last
South Africa 27.50 Sep/18
Spain 14.55 Sep/18
Brazil 11.90 Sep/18
Turkey 10.80 Jul/18
Italy 10.10 Sep/18
Argentina 9.60 Jun/18
France 9.10 Jun/18
Euro Area 8.10 Sep/18
Saudi Arabia 6.00 Jun/18
Canada 5.80 Oct/18
Indonesia 5.34 Jun/18
Australia 5.00 Sep/18
Russia 4.50 Sep/18
United Kingdom 4.10 Sep/18
South Korea 3.90 Oct/18
China 3.82 Sep/18
Netherlands 3.70 Sep/18
United States 3.70 Oct/18
Mexico 3.60 Sep/18
India 3.52 Dec/17
Germany 3.40 Sep/18
Switzerland 2.40 Oct/18
Japan 2.30 Sep/18
Singapore 2.10 Sep/18


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