The unemployment rate in Macau stood at 1.8 percent in August-October of 2018, the same as in the previous period. Total number of unemployed was unchanged at 6.9 thousand while employment declined by 1,600 to 386 thousand. Job gains were seen in hotels & similar activities while losses were observed in construction; gaming & junket activities; restaurant & similar activities, and wholesale & retail trade. The labor force participation rate was at 70.8 percent. In August-October 2017 period, the jobless rate was higher at 1.9 percent. Unemployment Rate in Macau averaged 3.69 percent from 1996 until 2018, reaching an all time high of 7.10 percent in June of 2000 and a record low of 1.70 percent in January of 2014.
Unemployment Rate in Macau is expected to be 1.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Macau to stand at 1.90 in 12 months time. In the long-term, the Macau Unemployment Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.