HK's jobless rate falls to 5-year low (Oct/2006)
The latest unemployment rate has fallen to a new five year low of 4.7% between July and September. A marginal drop was
also recorded in the underemployment rate of 2.3%. Total employment expanded to a record high of nearly 3.5 million. A
government spokesman pointed out that the labour market remained active. The near-term outlook will hinge on the
continued pick-up in overall economic activity giving rise to additional jobs for the workforce.
Hong Kong and mainland extend deal to avoid double taxation (Sep/2006)
Hong Kong and the mainland officials have signed a new taxation deal to avoid double taxation of individuals and
companies. The agreement will cover cross-border indirect income, including dividends and interest earnings. The pact
extends the scope of the original deal on income from personal services and business profits to avoid double taxation under
the two tax jurisdictions.
Sharp increase in new jobs (Sep/2006)
A recent survey conducted by the Hong Kong Institute of Human Resource Management indicates that a sharp increase in
new jobs created locally. Vacancy and job turnover rates rose to three-year high, reflecting growing labour market activity
and increased competition among employers, especially for the managerial staff. The survey covered 124 companies
representing more than 110,500 employees. For the 1st half of 2006, the average vacancy rate reached 2.82% and the
overall turnover rate reached 6.04%. Both are the highest half-year levels recorded since the survey started in 2003.
The financial services/banking and insurance sector recorded the highest vacancy rate, followed by the telecommunication
and manufacturing. In terms of staff grade, the middle-management/non-managerial recorded the highest vacancy rate,
followed by the supervisory level. Meanwhile, the highest net growth in job positions was recorded in the engineering
sector, followed by the telecommunication and wholesale, import/export and trading . The highest net growth was recorded
in the middle-management/non-managerial level.
For the job turnover, the wholesale, import/export and trading sector have the highest turnover, followed by the
business/professional services. In terms of staff grade, the middle management/non-managerial recorded the highest
turnover rate, followed by the supervisory level.
Jobless rate falls 57-month low (June/2006)
Census & Statistics Department released that the labour force grew to 3.613 million and total employment rose to an all-
time high of 3.438 million. The seasonally adjusted jobless rate fell 0.2% to a 57-month low at 4.9% in March-May, about
175 thousand people unemployed. The underemployment rate rose 0.2% to 2.6%. In May, the Labour Department netted
40,801 private sector vacancies, up 14.3% over the same month last year.
Total employment grew modestly (May/2006)
Total employment rose by 1,300 people to over 3.427 million, while about 181,000 people are presently jobless. The
seasonally adjusted unemployment rate remained at a 56-month low of 5.1%. Falls in the jobless rate were seen mainly in
the decoration and maintenance, insurance, and retail-trade sectors. Official said that the near-term outlook depends on the
pace of job creation in the private sector, especially fresh graduates and school leavers are looking for jobs in summer. In
April, the Labour Department received 39,187 private-sector vacancies, up 3.9% over the same month last year. On
average, about 2,000 vacancies were received on each working day.
Most of the civil servants shift to 5-day week (May/2006)
The government will implement its plan to introduce a five-day work-week for the civil service in three phases starting in July
beginning with the least essential services. Staffs will still put in 44 hours of work every week, but will shift their Saturday
hours to the working week by coming in earlier or leaving later. Officials emphasized that the impact on public services will
be kept to a minimum. Opening hours will be extended on weekdays to compensate for lost hours on Saturdays. Internet
services, drop-in boxes and alternative payment channels will also be improved. Emergency services will still be provided
around the clock, and services that are highly in demand will continue to be available on Saturdays. While there’s over
92,000 civil servants to work five days, more than 50,000 staff will not be included which are 60% of disciplined services and
40% of frontline workers. The plans will proceed to the second phase in January 2007 and the third phase in July 2007.
However, officials said that they have no plan to persuade the private sector to follow suite and they noted that many
foreign companies have made the switch long time ago. While civil service unionists welcomed the change, some called for
additional staff to ease workloads arising from longer hours. Federation of Hong Kong Industries also raised fears that the
termination of some business-related counter services on Saturdays might affect productivity and efficiency. Officials will
consider the impact of the changes in August, and decide if any refinements need to be made for the second or third phases.
Labour market continues active (Apr/2006)
About 15,300 people joined the workforce in the first quarter of this year bringing to over 3.6 million. Total employment
rebounded to over 3.4 million. Despite the unemployed people increased 4,200 to 180,000 and the underemployed rose
500 to 83,000, the seasonally adjusted jobless rate remained at a 54-month low of 5.2% and the underemployment rate
stabilized at 2.3%. In March, the Labour Department netted a record high of 50,044 private sector vacancies, up 39% over
the same month last year.
Base pay adjustment back on rising trend (Apr/2006)
No pay-freeze or pay-cut records for the first time in five years, as revealed by the Hong Kong Institute of Human Resource
Management survey. Of the 86 companies interviewed, all gave a pay increase in January, with an overall average of more
than 2%. The banking sector recorded the highest pay increase of 4.5%, followed by retail 3.6% and manufacturing 3.1%.
A sharp increase from 54% last year to 83% this year in the percentage of employees awarded a pay increase. There were
fewer companies implemented equal-pay adjustment policy. For the bonus payment, 49 companies had a regular
guaranteed-bonus policy and paid average 1.03 months of pay during the survey period. 37 companies with a non-
guaranteed bonus scheme also confirmed a bonus payment to most of their eligible employees, with average 1.39 months
of pay.
Maximum penalty for wage offences has been raised (Apr/2006)
Under the Employment Ordinance, employers have the statutory responsibility to pay wages on time. With effect from 30
March 2006, the maximum penalty for wage offences has been raised to a fine of $350,000 and imprisonment for three
years.
Dependents of expatriates in HK allowed to work again (Mar/2006)
A policy that barred dependents of expatriates in HK from looking for jobs was introduced since the post-SARS period when
HK unemployment hit an all-time high of around 8 percent. Recently, the government announced a U-turn on the
controversial policy so as to attract more overseas professionals to move to HK. On March 8, 2006, the Deputy Secretary of
Security, Michael Wong, announced that the policy had been reversed to allow dependents of expatriates to seek work in
HK.
Out of work increased 1,600 and underemployed decreased by 3,700 (Mar/2006)
The total number of people out of work increased slightly by around 1,600 to 176-thousand while the seasonal
unemployment rate remained unchanged at a 4.5-year low of 5.2%. Concurrently, the underemployment rate at 2.3%,
decreased by 3,700 to 82-thousand people. The government noted that the total employment fell by 13,000 to 3.411 million
as a result of slackened business activity and labour demand particularly in building and construction after the Lunar New
Year holidays. However, this was largely offset by a reduction of 11,400 people in the labour supply to 3.587 million. A
spokesman pointed out that the labour market remained active. In February, the Labour Department netted 43,173 private
sector vacancies, about 2 000 vacancies were received on each working day.
Jobless rate continues to fall (Feb/2006)
Jobless rate last month has fallen slightly by 0.1 percent to 5.2 percent. The number of unemployed people fell 8,000 to 174-
thousand. The underemployment rate, which measures the number of people who cannot secure more than 35 hours of
work a week has also fallen by the same percentage to 2.4%.
Jobless rate remains unchanged at 5.3% (Jan/2006)
The total number of people out of work at nearly 190-thousand. It is a 52-month low. The government says the
unemployment rate has gone down in the manufacturing and hotel sectors. However, at the same time, the
underemployment rate has edged up slightly to 2.5 percent.
HK Government plans for five-day working week for civil servants (Jan/2006)
The chief executive, Donal Tsang, has announced that a five-day working week will be introduced for civil servants from July.
The working week will remain 44 hours, and those involved with counter and emergency services will still have to work on
Saturdays.
Firms declare bankruptcy but don't pay employees' compensation now face harsher penalties (Jan/2006)
Harsher penalties to 250-thousand dollars and three years in prison for repeat offenders have passed for legislation. It
aims at unscrupulous employers that don't pay employees' due compensation, and to stop bankrupt firms to use the wages
insolvency fund as an ATM machine but then to open another business.
Top
The latest unemployment rate has fallen to a new five year low of 4.7% between July and September. A marginal drop was
also recorded in the underemployment rate of 2.3%. Total employment expanded to a record high of nearly 3.5 million. A
government spokesman pointed out that the labour market remained active. The near-term outlook will hinge on the
continued pick-up in overall economic activity giving rise to additional jobs for the workforce.
Hong Kong and mainland extend deal to avoid double taxation (Sep/2006)
Hong Kong and the mainland officials have signed a new taxation deal to avoid double taxation of individuals and
companies. The agreement will cover cross-border indirect income, including dividends and interest earnings. The pact
extends the scope of the original deal on income from personal services and business profits to avoid double taxation under
the two tax jurisdictions.
Sharp increase in new jobs (Sep/2006)
A recent survey conducted by the Hong Kong Institute of Human Resource Management indicates that a sharp increase in
new jobs created locally. Vacancy and job turnover rates rose to three-year high, reflecting growing labour market activity
and increased competition among employers, especially for the managerial staff. The survey covered 124 companies
representing more than 110,500 employees. For the 1st half of 2006, the average vacancy rate reached 2.82% and the
overall turnover rate reached 6.04%. Both are the highest half-year levels recorded since the survey started in 2003.
The financial services/banking and insurance sector recorded the highest vacancy rate, followed by the telecommunication
and manufacturing. In terms of staff grade, the middle-management/non-managerial recorded the highest vacancy rate,
followed by the supervisory level. Meanwhile, the highest net growth in job positions was recorded in the engineering
sector, followed by the telecommunication and wholesale, import/export and trading . The highest net growth was recorded
in the middle-management/non-managerial level.
For the job turnover, the wholesale, import/export and trading sector have the highest turnover, followed by the
business/professional services. In terms of staff grade, the middle management/non-managerial recorded the highest
turnover rate, followed by the supervisory level.
Jobless rate falls 57-month low (June/2006)
Census & Statistics Department released that the labour force grew to 3.613 million and total employment rose to an all-
time high of 3.438 million. The seasonally adjusted jobless rate fell 0.2% to a 57-month low at 4.9% in March-May, about
175 thousand people unemployed. The underemployment rate rose 0.2% to 2.6%. In May, the Labour Department netted
40,801 private sector vacancies, up 14.3% over the same month last year.
Total employment grew modestly (May/2006)
Total employment rose by 1,300 people to over 3.427 million, while about 181,000 people are presently jobless. The
seasonally adjusted unemployment rate remained at a 56-month low of 5.1%. Falls in the jobless rate were seen mainly in
the decoration and maintenance, insurance, and retail-trade sectors. Official said that the near-term outlook depends on the
pace of job creation in the private sector, especially fresh graduates and school leavers are looking for jobs in summer. In
April, the Labour Department received 39,187 private-sector vacancies, up 3.9% over the same month last year. On
average, about 2,000 vacancies were received on each working day.
Most of the civil servants shift to 5-day week (May/2006)
The government will implement its plan to introduce a five-day work-week for the civil service in three phases starting in July
beginning with the least essential services. Staffs will still put in 44 hours of work every week, but will shift their Saturday
hours to the working week by coming in earlier or leaving later. Officials emphasized that the impact on public services will
be kept to a minimum. Opening hours will be extended on weekdays to compensate for lost hours on Saturdays. Internet
services, drop-in boxes and alternative payment channels will also be improved. Emergency services will still be provided
around the clock, and services that are highly in demand will continue to be available on Saturdays. While there’s over
92,000 civil servants to work five days, more than 50,000 staff will not be included which are 60% of disciplined services and
40% of frontline workers. The plans will proceed to the second phase in January 2007 and the third phase in July 2007.
However, officials said that they have no plan to persuade the private sector to follow suite and they noted that many
foreign companies have made the switch long time ago. While civil service unionists welcomed the change, some called for
additional staff to ease workloads arising from longer hours. Federation of Hong Kong Industries also raised fears that the
termination of some business-related counter services on Saturdays might affect productivity and efficiency. Officials will
consider the impact of the changes in August, and decide if any refinements need to be made for the second or third phases.
Labour market continues active (Apr/2006)
About 15,300 people joined the workforce in the first quarter of this year bringing to over 3.6 million. Total employment
rebounded to over 3.4 million. Despite the unemployed people increased 4,200 to 180,000 and the underemployed rose
500 to 83,000, the seasonally adjusted jobless rate remained at a 54-month low of 5.2% and the underemployment rate
stabilized at 2.3%. In March, the Labour Department netted a record high of 50,044 private sector vacancies, up 39% over
the same month last year.
Base pay adjustment back on rising trend (Apr/2006)
No pay-freeze or pay-cut records for the first time in five years, as revealed by the Hong Kong Institute of Human Resource
Management survey. Of the 86 companies interviewed, all gave a pay increase in January, with an overall average of more
than 2%. The banking sector recorded the highest pay increase of 4.5%, followed by retail 3.6% and manufacturing 3.1%.
A sharp increase from 54% last year to 83% this year in the percentage of employees awarded a pay increase. There were
fewer companies implemented equal-pay adjustment policy. For the bonus payment, 49 companies had a regular
guaranteed-bonus policy and paid average 1.03 months of pay during the survey period. 37 companies with a non-
guaranteed bonus scheme also confirmed a bonus payment to most of their eligible employees, with average 1.39 months
of pay.
Maximum penalty for wage offences has been raised (Apr/2006)
Under the Employment Ordinance, employers have the statutory responsibility to pay wages on time. With effect from 30
March 2006, the maximum penalty for wage offences has been raised to a fine of $350,000 and imprisonment for three
years.
Dependents of expatriates in HK allowed to work again (Mar/2006)
A policy that barred dependents of expatriates in HK from looking for jobs was introduced since the post-SARS period when
HK unemployment hit an all-time high of around 8 percent. Recently, the government announced a U-turn on the
controversial policy so as to attract more overseas professionals to move to HK. On March 8, 2006, the Deputy Secretary of
Security, Michael Wong, announced that the policy had been reversed to allow dependents of expatriates to seek work in
HK.
Out of work increased 1,600 and underemployed decreased by 3,700 (Mar/2006)
The total number of people out of work increased slightly by around 1,600 to 176-thousand while the seasonal
unemployment rate remained unchanged at a 4.5-year low of 5.2%. Concurrently, the underemployment rate at 2.3%,
decreased by 3,700 to 82-thousand people. The government noted that the total employment fell by 13,000 to 3.411 million
as a result of slackened business activity and labour demand particularly in building and construction after the Lunar New
Year holidays. However, this was largely offset by a reduction of 11,400 people in the labour supply to 3.587 million. A
spokesman pointed out that the labour market remained active. In February, the Labour Department netted 43,173 private
sector vacancies, about 2 000 vacancies were received on each working day.
Jobless rate continues to fall (Feb/2006)
Jobless rate last month has fallen slightly by 0.1 percent to 5.2 percent. The number of unemployed people fell 8,000 to 174-
thousand. The underemployment rate, which measures the number of people who cannot secure more than 35 hours of
work a week has also fallen by the same percentage to 2.4%.
Jobless rate remains unchanged at 5.3% (Jan/2006)
The total number of people out of work at nearly 190-thousand. It is a 52-month low. The government says the
unemployment rate has gone down in the manufacturing and hotel sectors. However, at the same time, the
underemployment rate has edged up slightly to 2.5 percent.
HK Government plans for five-day working week for civil servants (Jan/2006)
The chief executive, Donal Tsang, has announced that a five-day working week will be introduced for civil servants from July.
The working week will remain 44 hours, and those involved with counter and emergency services will still have to work on
Saturdays.
Firms declare bankruptcy but don't pay employees' compensation now face harsher penalties (Jan/2006)
Harsher penalties to 250-thousand dollars and three years in prison for repeat offenders have passed for legislation. It
aims at unscrupulous employers that don't pay employees' due compensation, and to stop bankrupt firms to use the wages
insolvency fund as an ATM machine but then to open another business.
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