The seasonally adjusted unemployment rate in Hong Kong was unchanged at 2.8 percent in the three months to May 2019, remaining at the lowest level since January 1998. Also, the underemployment rate was unchanged at 1.0 percent, the same as in the previous period. Unemployment Rate in Hong Kong averaged 3.66 percent from 1981 until 2019, reaching an all time high of 8.50 percent in June of 2003 and a record low of 1 percent in July of 1989.

Unemployment Rate in Hong Kong is expected to be 2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Hong Kong to stand at 2.80 in 12 months time. In the long-term, the Hong Kong Unemployment Rate is projected to trend around 2.80 percent in 2020, according to our econometric models.

Hong Kong Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-03-19 08:30 AM Unemployment Rate 2.8% 2.8% 2.8%
2019-04-18 08:30 AM Unemployment Rate 2.8% 2.8% 2.8%
2019-05-20 08:30 AM Unemployment Rate 2.8% 2.8% 2.8% 2.8%
2019-06-19 08:30 AM Unemployment Rate 2.8% 2.8% 2.8%
2019-07-18 08:30 AM Unemployment Rate 2.8% 3.00%
2019-08-19 08:30 AM Unemployment Rate 2.80%
2019-09-17 08:30 AM Unemployment Rate 2.80%



Hong Kong Jobless Rate Unchanged at Over 21-Year Low

The seasonally adjusted unemployment rate in Hong Kong stood at 2.8 percent in the three months to March 2019, remaining the lowest jobless rate since January 1998. Also, the underemployment rate was unchanged at 1.0 percent, the same as in the previous period.

On a non-seasonally adjusted basis, the number of unemployed persons went up by 7,900 to 110,400 in January-March 2019 when compared with the prior period, while the number of underemployed dropped by 1,400 to 38,900 persons. On a yearly basis, the unemployment situation continued to improve for many of the main services sector, notably in the retail, accommodation and food services sectors, amid an expansion in inbound tourism.

Meantime, the number of employed rose by 6,300 to 3,867 thousand and the labour force participation rate was steady at 60.7 percent. 

Looking ahead, "The labour market is expected to remain largely stable in the near term. The Government will stay vigilant to how the evolving external uncertainties will affect the labour market going forward." the Secretary for Labour and Welfare, Dr Law Chi-kwong, said. 


Census and Statistics Department | Stefanie Moya | stefanie.moya@tradingeconomics.com
4/18/2019 8:44:15 AM



Hong Kong Labour Last Previous Highest Lowest Unit
Unemployment Rate 2.80 2.80 8.50 1.00 percent [+]
Employed Persons 3869.10 3865.00 3882.40 2370.60 Thousand [+]
Unemployed Persons 114.10 112.30 307.70 24.90 Thousand [+]
Labor Force Participation Rate 60.70 60.70 66.50 59.50 percent [+]
Productivity 166.80 160.10 166.80 99.40 Index Points [+]
Job Vacancies 79579.00 78186.00 127765.00 15919.00 [+]
Wages 16791.00 16786.00 16791.00 10382.00 HKD/Month [+]
Wages in Manufacturing 223.40 222.60 223.40 141.80 Index Points [+]
Minimum Wages 34.50 34.50 34.50 28.00 HKD/Hour [+]
Population 7.48 7.41 7.48 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 5.00 4.80 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 June of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.80 2.80 8.50 1.00 1981 - 2019 percent Monthly
SA




Country Last Previous
South Africa 27.60 Mar/19
Spain 14.70 Mar/19
Turkey 14.10 Mar/19
Brazil 12.50 Apr/19
Italy 10.20 Apr/19
Argentina 10.10 Mar/19
France 8.70 Mar/19
Euro Area 7.60 Apr/19
Saudi Arabia 6.00 Dec/18
Canada 5.40 May/19
Australia 5.20 May/19
Indonesia 5.01 Mar/19
Russia 4.50 May/19
South Korea 4.00 May/19
United Kingdom 3.80 Apr/19
China 3.67 Mar/19
United States 3.60 May/19
India 3.53 Dec/18
Mexico 3.50 Apr/19
Netherlands 3.30 May/19
Germany 3.20 Apr/19
Japan 2.40 Apr/19
Switzerland 2.30 May/19
Singapore 2.20 Mar/19


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