Hong Kong Unemployment Rate

Unemployment Rate in Hong Kong remained unchanged at 3.10 percent in March of 2014 from 3.10 percent in February of 2014. Unemployment Rate in Hong Kong is reported by the Census and Statistics Department, Hong Kong. Unemployment Rate in Hong Kong averaged 3.74 Percent from 1981 until 2014, reaching an all time high of 8.50 Percent in June of 2003 and a record low of 1 Percent in July of 1989. In Hong Kong, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page provides - Hong Kong Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
3.10 3.10 8.50 1.00 3.10 | 2014/04 1981 - 2014 Percent Monthly

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Hong Kong Unemployment Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2014-01-20 08:30 AM Hong Kong
Unemployment Rate
Dec 2013 3.2% 3.3% 3.3% 3.2%
2014-02-18 08:30 AM Hong Kong
Unemployment Rate
Jan 2014 3.1% 3.2% 3.2% 3.1%
2014-03-17 08:30 AM Hong Kong
Unemployment Rate
Feb 2014 3.1% 3.1% 3.1%
2014-04-22 09:30 AM Hong Kong
Unemployment Rate
Mar 2014 3.1% 3.1% 3.1%
2014-05-19 09:30 AM Hong Kong
Unemployment Rate
Apr 2014 3.1% 3.1%
2014-06-17 09:30 AM Hong Kong
Unemployment Rate
May 2014 3%
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Labour Last Previous Highest Lowest Forecast Unit
Population 7.22 2013-12-31 7.17 7.22 3.08 7.25 2014-06-30 Million [+]
Unemployment Rate 3.10 2014-03-15 3.10 8.50 1.00 3.10 2014-04-30 Percent [+]
Employed Persons 3721.00 2014-03-15 3731.90 3764.80 2370.60 3717.61 2014-03-31 Thousand [+]
Job Vacancies 72382.00 2013-12-31 78299.00 127765.00 15919.00 78161.78 2014-03-31 [+]
Labour Costs 129.30 2013-08-15 129.70 148.10 76.20 131.92 2013-12-31 Index Points [+]
Labor Force Participation Rate 60.60 2014-03-15 60.70 66.50 59.50 61.10 2014-03-31 Percent [+]
Productivity 145.50 2012-06-29 144.50 145.50 99.40 145.75 2012-12-31 Index Points [+]
Unemployed Persons 119.10 2014-03-15 112.50 307.70 24.90 116.77 2014-03-31 Thousand [+]
Wages 195.20 2013-11-15 194.60 195.20 144.80 197.64 2014-03-31 Index Points [+]
Wages in Manufacturing 180.90 2013-11-15 182.30 182.30 141.80 185.37 2014-03-31 Index Points [+]
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Hong Kong Unemployment Rate Unchanged in March

Hong Kong’ seasonally adjusted jobless rate remained steady at 3.1 percent for the third consecutive period in January to March of 2014, down from 3.5 percent a year earlier.

The number of unemployed persons (not seasonally adjusted) increased by around 6,600 from 112,500 in December of 2013 – February of 2014 to 119,100 in January – March of 2014. Over the same period, the number of underemployed persons also increased by around 800 from 46,900 to 47,700. The underemployment rate remained at a 16-year low 1.2 percent.

The increase in the unemployment rate (not seasonally adjusted) was mainly observed in the decoration, repair and maintenance for buildings sector, while a decrease was mainly seen in the financing sector. Increases in the underemployment rate were recorded in foundation and superstructure works of the construction sector, food and beverage service activities sector, while decreases were mainly seen in the decoration, repair and maintenance for buildings, warehousing and support activities for transportation sectors.

Total employment decreased further from its earlier festive high around the Lunar New Year, but showed a small change from same period last year, falling by 10,900 in January – March of 2014 to 3.72 million from 3.73 million in December of 2013 – February of 2014. Over the same period, the labor force also decreased by around 4,200 from 3.844 million to 3.840 million.

Census and Statistics Department | Isabel Felino | isabel.felino@tradingeconomics.com
4/22/2014 10:25:01 AM

RECENT RELEASES

Hong Kong Unemployment Rate Stable at 3.1%
In the period December of 2013 - February of 2014, Hong Kong jobless rate remained unchanged at a 16-year low 3.1 percent. Total employment declined from its historic high, as business activities returned to a more normal level after its peak in Lunar New Year. Published on 2014-03-17

Hong Kong Unemployment Rate Edges Down in January
The seasonally adjusted unemployment rate decreased from 3.2 percent in October - December 2013 to 3.1 percent in November 2013 - January 2014. It is the lowest jobless rate in almost 16 years, as total employment hit a fresh new high due to the Lunar New Year, while the number of unemployed persons declined for the fifth consecutive month. Published on 2014-02-18


Unemployment Rate | Notes
The unemployment rate can be defined as the number of people actively looking for a job divided by the labour force. Changes in unemployment depend mostly on inflows made up of non-employed people starting to look for jobs, of employed people who lose their jobs and look for new ones and of people who stop looking for employment.


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Hong Kong’ seasonally adjusted jobless rate remained steady at 3.1 percent for the third consecutive period in January to March of 2014, down from 3.5 percent a year earlier.
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Hong Kong annual consumer prices rose 3.9 percent in March of 2014, the same rate recorded in February. In the first quarter of 2014, the inflation rate rose by 4.2 percent over a year earlier. The corresponding increase after netting out the effects of all Government's one-off relief measures was 3.8 percent.
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Hong Kong’s trade deficit increased sharply to HKD 53.7 billion in February of 2014 as exports fell by an annual 1.3 percent. Yet, taking January and February as a whole to neutralize the distortion caused by the difference in timing of the Lunar New Year holidays, export performance in the first two months of 2014 was rather sluggish.
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In February of 2014, Hong Kong’s inflation rate eased to 3.9 percent, down from 4.6 percent in the previous month. The smaller increase was mainly due to the difference in the timing of the Lunar New Year, which fell in late January and early February this year but in mid-February last year, resulting in smaller increase in prices for package tours and meals bought away from home. Cost of private housing rentals also slowed.
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In the fourth quarter of 2013, Hong Kong's economy expanded at a faster 3 percent over a year earlier, up from a downward revised 2.8 percent in the previous three-month period. In 2014, the economy is expected to grow between 3 to 4 percent, better than a 2.9 percent expansion in 2013.
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In January of 2014, Hong Kong’s trade deficit decreased 63 percent over a month earlier to HKD 19.8 billion, due to a fall in imports. A year earlier the trade deficit reached HKD 27.5 billion, as the Chinese New Year fell in late January and early February in 2014 but in mid-February in 2013.
Hong Kong Inflation Rate Accelerates in January  
In January of 2014, Hong Kong’s annual inflation rate rose 4.6 percent, the highest rate in the last four months, due mainly to the difference in timing of the Lunar New Year, which fell in late January and early February this year, but in mid-February last year.
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