The seasonally adjusted unemployment rate in Hong Kong edged down to 6.3% in the three months to November of 2020 from 6.4% in the previous period. The number of unemployed persons (not seasonally adjusted) decreased by around 13,500 to 244,300 in September-November 2020. Over the same period, the number of underemployed persons also decreased by around 14,900 to 133,100. Meantime, employment increased by around 22,400 to 3.650 million.The labour force also increased by around 8,900 to 3.894 million. The unemployment rate decreased across almost all the major economic sectors, in particular retail, accommodation and food services, as well as education and the arts, entertainment and recreation sector. "Given the fourth wave of local epidemic of late, the pressure on the labour market is likely to increase again in the near term", the Secretary for Labour and Welfare said. source: Census and Statistics Department, Hong Kong
Unemployment Rate in Hong Kong averaged 3.69 percent from 1981 until 2020, 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 December of 2020.
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 5.50 in 12 months time. In the long-term, the Hong Kong Unemployment Rate is projected to trend around 5.00 percent in 2021 and 4.00 percent in 2022, according to our econometric models.