The unemployment rate in Macau stood at 1.8 percent in August-October 2019, the same as in the previous period. It remained the highest jobless rate since August-October 2018 period, with total number of unemployed edging down by 300 to 7,000 while employment increasing 200 to 387,300. Job gains were seen in gaming & junket activities while losses were reported in construction, restaurant & similar activities, wholesale & retail trade, and hotel & similar activities. Meantime, the labor force participation rate slipped to 70.1 from 70.2 percent. In August-October 2018, the jobless rate was also at 1.8 percent. Unemployment Rate in Macau averaged 3.61 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 1.70 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 1.80 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.