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Written by: Zhang Meihua
2020-01-09 18:47
Last updated: 2020-01-09 18:48In recent years, college graduates have gradually lost their advantages in the job market. Some groups have analyzed the data of the past 30 years and found that the median income of workers with university education has stagnated or even declined in the last 10 years. The median in 2008 was about 31,400. It fell by more than 2,000 yuan to 29,300 yuan in the previous year; on the other hand, the median income of high school education workers rose sharply by 13.5% to 15,700 yuan in 10 years. The income gap between college and high school education has narrowed significantly in the past 30 years, from 2.6 times to only 1.86 times.
New Forum and New Youth Forum released the latest "Research Report on Trends and Premiums of the University of Hong Kong's Educational Laborers' Earnings", which analyzes the data of the Census and Statistics Department. After adjusting for inflation, it compares the income of university education workers in the past 30 years and the comparison of university education workers Income gap with high school-educated workers.
The study found that the median college graduate labor force, although it has increased in the past 30 years, has increased by 13.2% from 25,800 yuan in 1988 to 29,300 yuan. However, during the 10 years from 2008 to 2018, the median college graduate labor dropped from 31,400 yuan to 29,300 yuan, a drop of more than 7%.
The study also found that, unlike the trend of college graduate labor income, the median income of high school graduate workers continued to rise from 2008 to 2018 for a total of 10 years, rising from 13,800 yuan to 15,700 yuan, an increase of about 13.5%. The difference in median income between the two has dropped from 2.6 times 30 years ago to 1.86 times the year before. The gap in income between college and high school education has narrowed significantly over the past 10 years.
Deng Yongjun, the convener of the New Youth Forum, suggested that the government should promote the diversification of industries to meet the graduates of different disciplines. (Photo by Zhang Meihua)
Hong Kong government fails to guide market to provide large number of high value-added jobs
The group pointed out that although the income of college-educated workers is still higher than that of high-school education, the gap has narrowed in recent years, and the group believes that the problem of devaluation of education has become increasingly serious. Deng Yongjun, the convener of the New Youth Forum, said that the study was not to deny the acceptance of university education, but to believe that the Hong Kong government lacked awareness of economic planning and failed to assist and guide the market to provide a large number of high value-added jobs.
He suggested that the government should transform Hong Kong into a knowledge-based economy and promote industrial diversification to meet university graduates in different disciplines. Tang Yongjun also hopes that in the future, new artificial intelligence industries such as 5G will rise, and Hong Kong is expected to develop industries not limited to real estate, finance and retail, and attract more local university talents.
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Salary for college students in employment
