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.