The unemployment rate in Hong Kong increased to 6.6 percent in the three months to December of 2020 from 6.3 percent in the previous period. It is the highest jobless rate since the last quarter of 2004 as the coronavirus pandemic continues to weigh on local consumption sentiment and disrupt economic activities. The number of unemployed rose by 1500 to 246 thousand and the employed population decreased by 2400 to 3.65 million. Unemployment went up across almost all the major economic sectors, with retail, accommodation and food services recording the main increases. source: Census and Statistics Department, Hong Kong

Unemployment Rate in Hong Kong averaged 3.70 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 February of 2021.

Unemployment Rate in Hong Kong is expected to be 6.00 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 5.00 in 12 months time. In the long-term, the Hong Kong Unemployment Rate is projected to trend around 4.00 percent in 2022, according to our econometric models.

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Hong Kong Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
6.60 6.30 8.50 1.00 1981 - 2020 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-10-20 08:30 AM Sep 6.4% 6.1% 6.0%
2020-11-17 08:30 AM Oct 6.4% 6.4% 6.3%
2020-12-17 08:30 AM Nov 6.3% 6.4% 6.5%
2021-01-19 08:30 AM Dec 6.6% 6.3% 6.5%
2021-02-18 08:30 AM Jan 6.6%
2021-03-16 08:30 AM Feb
2021-04-22 08:30 AM Mar
2021-05-20 08:30 AM Apr


News Stream
Hong Kong Unemployment Rate at 16-Year High
The unemployment rate in Hong Kong increased to 6.6 percent in the three months to December of 2020 from 6.3 percent in the previous period. It is the highest jobless rate since the last quarter of 2004 as the coronavirus pandemic continues to weigh on local consumption sentiment and disrupt economic activities. The number of unemployed rose by 1500 to 246 thousand and the employed population decreased by 2400 to 3.65 million. Unemployment went up across almost all the major economic sectors, with retail, accommodation and food services recording the main increases.
2021-01-19
Hong Kong Jobless Rate Drops to 6.3%
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.
2020-12-17
Hong Kong Jobless Rate Remains at 15-Year High
The seasonally adjusted unemployment rate in Hong Kong was unchanged at 6.4 percent in October of 2020, remaining at the highest rate since January 2005, as the coronavirus pandemic hit the labour market. The number of unemployed persons (not seasonally adjusted) decreased by around 2,000 to 257,800 in August-October 2020. Over the same period, the number of underemployed persons also decreased by around 1,100 148,000. Meanwhile, employment increased by around 2,900 to 3.627 million. The labour force was little changed at 3.885 million. "While the overall economic situation saw some improvement in recent months, hiring sentiments among employers would probably remain cautious, especially when the economic outlook is still clouded by the evolving pandemic situation. The labour market will remain under pressure in the near term", the Secretary for Labour and Welfare said.
2020-11-17
Hong Kong Jobless Rate Highest Since 2005
The seasonally adjusted unemployment rate in Hong Kong rose to 6.4 percent in the three months to September 2020 from 6.1 percent in the previous period. It was the highest jobless rate since January 2005, as the coronavirus pandemic hit the labour market. The number of unemployed persons (not seasonally adjusted) increased by around 11,500 to 259,800 and the number of underemployed persons was 149,100, about the same as in the prior period. Meantime, the number of employed dropped by 15,600 to 3,624,800 and the labour force also declined by around 4,200 to 3,888,600. “As the overall economic situation remains weak and the global pandemic is still evolving, the labour market will remain under pressure in the near term. The Government has rolled out relief measures of unprecedented scale, including a series of measures on job retention and job creation, which help keep workers in employment", the Secretary for Labour and Welfare said.
2020-10-20

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.