The unemployment rate in Macau stood at 1.7 percent in January-March 2019, the same as in the previous period and staying at its lowest level since February-April 2015 period. Total number of unemployed fell by 2.6 percent to 6.5 thousand and employment declined 1 thousand (-0.3 percent) to 387.1 thousand. Job gains were seen in hotels & similar activities, and gaming & junket activities; while losses were reported in wholesale & retail trade, construction, and restaurant & similar activities. The labor force participation rate edged down to 70.4 in January-March from 70.8 in the prior period. In January-March 2018, the jobless rate was higher at 1.9 percent. Unemployment Rate in Macau averaged 3.66 percent from 1996 until 2019, 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 1.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Macau to stand at 1.90 in 12 months time. In the long-term, the Macau Unemployment Rate is projected to trend around 1.70 percent in 2020, according to our econometric models.