But now, they have to face a permanent problem of losing job. Hong Kong has for long been held as the International finance centre. The following sections will analyze this hot topic.
The following sections will analyze this hot topic. In other words the example of the cleaning jobs and security guards should be followed.
It is because more people had lost their jobs for a long time. Over the same period, the underemployment rate remained unchanged at 1 per cent.
Therefore, the manufacturing factories move to China for cheap labour. What difference will an increase to the minimum wage mean for the lowest-paid in Hong Kong? Until recently, most workers who lost their jobs were from the manufacturing sector.
The two rates were Though there are a great demand of labour in the service sector, many of the unemployed still cannot find their job because of job matching problem.
Also, we will analyze the change in our labor force. This combined with the small proportion of low-wage workers in the poorer families means that net effect on income distribution in Hong Kong upon the introduction of minimum will be minimal.
However since the low skilled workers are likely to lose their jobs, then naturally the introduction of minimum wage cannot result in better distribution of income. The influence that bring to the economy is not insignificant.
It is because more people had lost their jobs for a long time.
This kind of unemployment is called the structural unemployment which is a kind of involuntary unemployment. Firstly, owing to economic slowdown and structural change, the manufacturing industry is badly affected, many firms were closed.
At the end ofthe total labour supply is 2 The spirit of positive non intervention which allows for markets to operate without intervention has guided Hong Kong for thirty years must be left to continue.
Unemployment has spilled over to the service sector from manufacturing sector. This will in fact widen the gap between the rich and the poor. It is a serious threat to the lives of the poor. On the other hand, policy-makers tried to release the high inflation rate by means of imposing a higher interest rate.
Unemployment has spilled over to the service sector from manufacturing sector. If the minimum wage is set below the market rate, employers will have an easy time paying their workers. The study further indicates that teenagers aged 16 — 19 suffer a greater loss in jobs than adults upon the implementation of statutory minimum wage.
It is therefore unnecessary to introduce regulatory policies such as minimum wage which may off set the balance already achieved by the policies of the free market economy.
Leung Yu a member of the Council argued that the introduction of minimum wage will have no effect on the employment rate. However they have not proved this beyond reasonable doubt. Labour importation scheme Is it the main reason responsible for the rising unemployment rate in Hong Kong?
However, this is just a superficial reason.Topics: Unemployment, Economics, Employment Pages: 2 ( words) Published: April 18, The youth unemployed should be one the groups the most in need for financial support in Hong Kong. They face keen competition and suffer from the local economic regression, which.
Unemployment for Hong Kong from Census and Statistics Department Hong Kong Special Administrative Region (HKSARG) for the Employment Situation - Monthly release. This page provides forecast and historical data, charts, statistics, news and updates for Hong Kong Unemployment.
Unemployment in Hong Kong Essays - Introduction The unemployment rate became a hot topic in the past few months when it rose to per cent, a recent high for almost 10 years. The jobless rate was higher than the per cent unemployment rate recorded in the May to July period.
The unemployment problem in Hong Kong Introduction The unemployment rate became a hot topic in the past few months when it rose to per cent, a recent high for almost 10 years. Hong Kong Social Security Society, A Proposal for a Minimum Wage in Hong Kong,).
With these facts in mind, it is highly unlikely that the introduction of minimum wage will improve the living conditions of the poorer families in Hong Kong. The seasonally adjusted unemployment rate in Hong Kong was unchanged at a year low of percent in the three months to July The underemployment rate, however, edged up to percent from 1 percent in the April-June period.
Unemployment Rate in Hong Kong averaged percent from untilreaching an all time high of percent in June of and a record low of 1.Download