Hong Kong's seasonally adjusted unemployment rate retreated to 6.8 percent in the January 2020-March 2021 period, the lowest since the quarter ending December 2020, as the pandemic receded towards the end of the quarter. On a non-seasonally adjusted basis, the number of unemployed persons declined by 1,800 to 259,800 and those employed increased by 4,000 to 3.614 million. Meantime, the labor force expanded by around 2,200 to 3.873 million. Unemployment levels decreased in many major economic sectors, more distinctly in the retail, accommodation and food services sector, and the human health activities sector. Looking ahead, the Secretary of Labour and Welfare warned of the uneven outlook across sectors and the challenges the tourism industry still faces in the coming months. source: Census and Statistics Department, Hong Kong
Unemployment Rate in Hong Kong averaged 3.72 percent from 1981 until 2021, 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 May of 2021.
Unemployment Rate in Hong Kong is expected to be 6.50 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 6.00 in 12 months time. In the long-term, the Hong Kong Unemployment Rate is projected to trend around 6.00 percent in 2022 and 5.00 percent in 2023, according to our econometric models.