Six industries that are dying in Hong Kong – and one that is already dead
Between December 2016 and February 2017, 119,400 people in the city were classed as unemployed, while 48,800 were underemployed
Between December 2016 and February 2017, there were 3,824,400 people employed in Hong Kong, representing a 61.2 per cent labour participation rate. As of December 2016, the most common sector for employment was import/export, wholesale and retail trades, with 809,144 workers. This was followed by those working in social and personal services (507,952); financial services (222,720) and transportation, storage, postal and courier services (178,802). During this period 119,400 people were classed as unemployed, while 48,800 were underemployed.
There is still no rule on maximum working hours. The minimum wage will increase to HK$34.50 from May 1.
In the Year of the Rooster, economists have warned the local economy is expected to record slower growth due to weak exports, a slumping property market and slowing private consumption.
JOBS THAT HAVE DIED OUT