Unemployment slows down and labor is good

The epidemic has eased, and the latest unemployment rate has dropped to the lowest level since the outbreak, and wage earners will get a raise next year.

ECA International, a human resources management consulting agency, released a pay trend survey report today (16th). It is expected that the salary growth of Hong Kong employees will reach 3.2% next year, which is higher than the average salary increase of 2.5% this year.

After deducting the expected inflation rate of 2.1%, the real salary increase next year is expected to be 1.1%, which is expected to underperform other Asian countries and regions such as the Mainland, Singapore and Taiwan.

A survey predicts that the salary of local employees will increase by 3.2% in 2022. After deducting the expected inflation rate of 2.1%, the real salary increase will be 1.1%.

(Photo by Huang Yongyu)

The average salary of local employees has increased by 2.5% this year. The best view of the electronic technology industry

The survey was conducted from August to September this year and collected data on 370 multinational companies from more than 70 countries and cities.

ECA International Asia Regional Director Guan Lilian said that the average salary of employees in Hong Kong increased by 2.5% this year, with the largest increase in the electronic technology industry reaching 2.9%.

He predicts that under the economic recovery next year, salaries can increase by 3.2%. After deducting the expected inflation factor of 2.1%, the actual increase will be 1.1%, which is close to twice the actual increase of 0.6% this year.

As for the number of companies that decide to freeze their salaries, he estimates that it will drop from 18% to 11%.

The Asia-Pacific region next year, plus labor ranking, Vietnam ranks first, the mainland ranks second

Looking at the ranking of the top ten real salary forecast growth rates in the Asia-Pacific region next year, the salary increase rate of employees in mainland China is 4.0%, ranking second, second only to Vietnam.

Guan Lilian explained that the forecast is affected by several factors, including China's "zero infection" epidemic prevention policy, which may affect economic growth.

ECA International Asia Regional Director Guan Lilian said that the speed of economic recovery lies in vaccination, border reopening and other external factors.

(Photo by Huang Yongyu)

In addition, he said that due to the early effective control of the epidemic in Taiwan, serious economic impact was avoided, and the actual growth is expected to rise from 1.6% to 2.0%.

As for Singapore, the actual growth is expected to reach 2%, tied for ninth.

The speed of economic and salary recovery depends on customs clearance and the level before the epidemic. It will take 2 to 4 years

Guan also said that the speed of economic recovery lies in vaccination, border reopening, and other external factors. He cited the need to "close the city" again or take anti-epidemic measures once the epidemic in some areas repeats, which will affect the economic recovery.

Guan estimates that it will take 2 to 4 years to return to the pre-epidemic level, emphasizing that it depends on the actual situation.

Dragonair closes one year｜Hong Kong aviation industry loses 8,600 people due to the epidemic Salary is 1%, after deducting inflation, it will be negative for the first time in 10 years. It is expected to increase by 3% next year.