Hong Kong’s seasonally adjusted unemployment rate fell to 5.1 percent in the three months ending May 2022, from 5.4 percent in the previous three-month period. The labor market improvement comes as COVID-19 cases fell to the lowest levels since January and policymakers rolled back some social distancing restrictions. The number of unemployed persons decreased by 14,700 to 191,400 but the number of workers declined by 5,400 to 3,553,800. Across sectors, the jobless rate retreated more steeply in the construction; retail, accommodation, and food services; and arts, entertainment, and recreation sectors. Looking ahead, the Secretary of Labor and Welfare said domestic economic activity and the labor market continue to improve, assuming the local epidemic remains under control. source: Census and Statistics Department, Hong Kong

Unemployment Rate in Hong Kong averaged 3.75 percent from 1981 until 2022, 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 2022.

Unemployment Rate in Hong Kong is expected to be 4.30 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 3.90 percent in 2023, according to our econometric models.

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Hong Kong Unemployment Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-19 08:30 AM Apr 5.4% 5% 5.2%
2022-06-17 08:30 AM May 5.1% 5.4% 5.4%
2022-07-19 08:30 AM Jun 5.1%


Related Last Previous Unit Reference
Unemployment Rate 5.10 5.40 percent May 2022
Unemployed Persons 191.40 206.10 Thousand May 2022
Employed Persons 3553.80 3559.20 Thousand May 2022
Labor Force Participation Rate 58.10 58.20 percent May 2022
Productivity 107.40 106.40 points Dec 2020
Job Vacancies 53696.00 60980.00 Mar 2022
Wages 17216.00 17182.00 HKD/Month Dec 2021
Wages in Manufacturing 15761.00 15250.00 HKD/Month Dec 2021
Population 7.47 7.50 Million Dec 2020
Youth Unemployment Rate 7.70 7.70 percent May 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
5.10 5.40 8.50 1.00 1981 - 2022 percent Monthly
SA

News Stream
Hong Kong Jobless Rate Falls to 5.1%
Hong Kong’s seasonally adjusted unemployment rate fell to 5.1 percent in the three months ending May 2022, from 5.4 percent in the previous three-month period. The labor market improvement comes as COVID-19 cases fell to the lowest levels since January and policymakers rolled back some social distancing restrictions. The number of unemployed persons decreased by 14,700 to 191,400 but the number of workers declined by 5,400 to 3,553,800. Across sectors, the jobless rate retreated more steeply in the construction; retail, accommodation, and food services; and arts, entertainment, and recreation sectors. Looking ahead, the Secretary of Labor and Welfare said domestic economic activity and the labor market continue to improve, assuming the local epidemic remains under control.
2022-06-17
Hong Kong Jobless Rate at Highest Since 2021
Hong Kong’s seasonally adjusted unemployment rate rose to 5.4 percent in the three months ending April 2022, from 5.0 percent in the previous three-month period. It was the highest jobless rate since mid-2021, as the number of unemployed persons rose by 17,600 to 206,100 and those employed decreased by 51,300 to 3,559,200 people. Across sectors, the jobless rate went up, more notably in the decoration, repair, and maintenance of buildings sector and retail, accommodation, and food services sector. Looking ahead, the Secretary of Labor and Welfare sees the improving local pandemic situation, along with the new round of the Consumption Voucher Scheme, should render support to business and thus employment of the consumption-related sectors.
2022-05-19
Hong Kong Jobless Rate at Highest Since Q3 2021
Hong Kong’s seasonally adjusted unemployment rate rose to 5.0 percent in the first quarter of 2022, from 4.5 percent in the previous three-month period. It was the highest jobless rate since the third quarter of the previous year, as virus outbreaks in Hong Kong and Mainland China prompted authorities to reimpose harsh lockdowns. The number of unemployed persons rose by 26,900 to 188,500 and those employed decreased by 54,000 to 3,610,500 people. Across sectors, the jobless rate went up more notably in construction, retail, accommodation & food services; and in the arts, entertainment & recreation sectors. Looking ahead, the Secretary of Labor and Welfare sees the improving local pandemic situation, along with government-funded consumption vouchers, will help bring jobs back to consumption-related sectors.
2022-04-21