Employment and the Economy

Youth I.D.E.A.S. 62 Economics Navigating Career Opportunities for Young People 1 August, 2021   The employment situation of Hong Kong’s young people has been drawing public attention. It is worth looking at how young people’s employment opportunities can be opened up so that their career development choices can be broadened in order to cope with future economic development trends.   Hong Kong is an important financial centre and commercial hub in the world, attracting enterprises of different capital backgrounds. Among them, enterprises from mainland China have been gradually increasing since the 1980s. In recent years, investments from mainland China have […]

  Youth I.D.E.A.S. 58 Economics Tackling Hong Kong’s Brain Drain 14 March, 2021     A talent cluster is one of the key elements in promoting economic growth and social development. Human resources have been the most important asset of Hong Kong in this respect. According to the Report on Manpower Projection to 2027 released by the Labour and Welfare Bureau, the labour force of Hong Kong continues to decline but the overall workforce demand continues to rise. The demand for workers with a bachelor’s degree or above will have increased by 310,000 by 2027, leading to a shortage of […]

  Youth I.D.E.A.S. 54 Economic Department Opportunities for Youth Employment Amid the Pandemic 2 November, 2020   Since the COVID-19 outbreak in Hong Kong in late January 2020, the HKSAR government has introduced a number of measures to reduce social contact and cross-border travel in order to control the spread of the virus. However, these measures have hit the economy and employment hard. As a result, the labour market has been deteriorating since February 2020.   According to the Census and Statistics Department,[1] the overall unemployment rate reached 6.4% for the period July–September 2020, while the overall underemployment rate reached […]

Youth I.D.E.A.S. 51 Economic Development Facilitating Young People’s Access to Financial Services through Virtual Banking 3 July 2020     According to a Business Insider research service report, the total value of all the world’s virtual banks equalled USD 18.6 billion in 2018, with 26 million users and 50 million accounts. It is expected that the growth of virtual banks is rapid and the total value will increase to USD 63 billion in 2024, with 98 million users and 187 million accounts[1].   The Hong Kong Monetary Authority published a revised set of guidelines on the authorisation of virtual banks […]

  Youth I.D.E.A.S. 47 Employment and Economics Development Enriching the Experiences of Working Youth through Overseas Exposures 31 September, 2019     Hong Kong is a cosmopolitan city that bridges east and west. It is also an international trade and financial centre. According to the Census and Statistics Department, 9,040 businesses with overseas parent companies are located here and employ 493,000 people. These businesses cover major industries such as trade, wholesale, retail, finance, and professional and business services.[1] Staff with overseas experience are needed for the daily operation of these businesses as well as for their future overseas expansion.   […]