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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
Hong KongHong Kong Unemployment Rate held to 3.7% in May 2026
FMPMonthlyReleased June 2026
Hong Kong Unemployment Rate held to 3.7% in May 2026, released June 2026. The reading matched expectations. Year-over-year, the indicator is up 0.2%. Over the past 3 months, Unemployment Rate averaged 3.7%, vs 3.83% in the prior 3-month window. Unemployment Rate is now the lowest in 10 months.
Latest Release
3.7
Actual
3.7
Consensus
3.7
Previous
Median Absolute Error
±0.1 percentage points
across last 12 releases
Last Call
May 2026
Predicted: 3.7
Actual: 3.7
Error: +0
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| Hang Seng | ▲ Direct | +0.80 | INDEX | Bullish Hang Seng | → View |
| XAU/USD | ▲ Direct | +0.62 | COMMODITIES | Bullish XAU | → View |
| USD/HKD | ▼ Inverse | −0.61 | FOREX | Bearish USD | → View |
| S&P 500 | ▲ Direct | +0.50 | INDEX | Bullish S&P 500 | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Unemployment Rate (Hong Kong) was reported at 3.7% in June 2026. This matched the market consensus of 3.7% exactly. The reading was unchanged from the previous release. Trailing 12-month context per ETL data through May 2026. Over the past 12 months, the indicator has averaged 3.74%, ranging from 3.5% to 3.9% across 11 releases.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 3.8%, up from the prior three at 3.8%. Volatility over the past year (σ 0.13%) is higher than the prior year (σ 0.12%). In May readings over the past 3 years, Unemployment Rate has averaged 3.37%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with Hang Seng (Bullish Hang Seng). A secondary relationship exists with XAU/USD, positively correlated (Bullish XAU). Over the last 12 releases, the Sigmacast model's median absolute error is 0.1%.
WHAT TO WATCH NEXT
The next release is scheduled for July 17, 2026.
Auto-generated from current model state · Refreshes on each release · Last update May 2026.
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Unemployment Rate - HK
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About Unemployment Rate — Hong Kong
DEFINITION
The Unemployment Rate is a key economic indicator that measures the percentage of the total labor force that is currently without a job and actively seeking employment. It is used to assess the health of the job market and the overall state of the economy. A high unemployment rate can indicate a weak economy, while a low unemployment rate can suggest a strong and growing economy. This data is closely monitored by policymakers, businesses, and investors to make informed decisions and projections.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2026): actual 3.7 %, consensus 3.7 %. Prior reading (Apr 2026): 3.7 %. Before that (Mar 2026): 3.7 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with Hang Seng (Bullish Hang Seng, r=0.80) — a useful reference for index-focused traders.