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Written by: Commentary Editing Room
2020-11-18 17:35
Last update date: 2020-11-18 17:36
On Tuesday (17th), the Census and Statistics Department announced that the seasonally adjusted unemployment rate from August to October was 6.4%, which was the same as the figure from July to September; the underemployment rate also remained at 3.8%, with the largest increase in the transportation industry. , Rose 0.6% to 6.2%, a 17-year high.
Unemployment rates in a number of industries that were severely affected by the epidemic earlier have adjusted, but the unemployment rates in industries such as catering services, retail and accommodation services still reach 14.8%, 8.6%, and 9.2%, respectively.
Although the overall unemployment rate in Hong Kong shows signs of stabilizing, the employment situation in the future is still hardly optimistic.
The overall employment rate in Hong Kong remains unchanged. The unemployment rates of the industries most hit by the epidemic at the beginning are showing signs of stabilization. However, with the end of the second phase of the "Employment Guarantee" subsidy, employers tend to be cautious in hiring. Not optimistic.
The Secretary of Labor and Welfare Law Zhiguang pointed out that the labor market is still difficult, the economic outlook is still affected by the epidemic, and the labor market is facing pressure in the short term.
Although it is good news that the overall unemployment rate has not risen, it is believed that there is still a long way to go before the local job market can return to its original state. The most obvious one is undoubtedly the transportation industry, which caused a huge increase in unemployment due to Cathay Pacific’s layoffs last month.
In order to alleviate the short-term difficulties of the unemployed, the government should first assist them in their temporary difficulties in terms of subsidies and unemployment subsidies. In the long run, the authorities should study training and guide the original industry employees to transfer to other industries. This helps the unemployed transition to The practices of other industries are believed to be much more sustainable than giving money or subsidies.
Unemployment rates in a number of industries that were severely affected by the epidemic earlier have adjusted, but the unemployment rates in industries such as catering services, retail and accommodation services still reach 14.8%, 8.6%, and 9.2%, respectively.
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Youth unemployment becomes a hidden worry
Given the uncertainties in the job market, the employment situation of young people in Hong Kong is equally worrying.
At present, the unemployment rate for young people aged 20-24 is as high as 20%. The government should actively create more jobs to help them find jobs. For example, the government itself can open more contract positions to attract graduates and provide additional subsidies to encourage companies to recruit graduates as internships or even employment. For long-term workers.
More importantly, in the face of the predicament caused by the epidemic, the government should not only regard this as a challenge, but also an opportunity to try to explore more local new economic industries.
If the government’s accumulated fiscal surpluses in the past years belonged to the accumulation of grains to prevent hunger, it is time to use resources to support other industries with room for development, such as environmental protection, medical care, technology and other key industries in the new economy.
With the development of the epidemic, the living habits of Hong Kong residents have drastically changed, and the performance of the new and old economic enterprises has fluctuated and the performance of enterprises has ebb and flow. This is undoubtedly a human resources "shuffle" affecting the future society.
The increase in demand for services such as online shopping, food delivery, and cloud work may even affect the future development trend of commerce. The government must seize the opportunity to accelerate the pace of local new economic development, and coordinate talent training in the process of guiding the unemployed to other industries , Transformation, so that more promising new economy enterprises can grow and welcome the advent of the post-epidemic era.
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