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Some unanswered questions Is HK too expensive and uncompetitive? Is HK marginalized? Has HK’s economy structurally transformed itself? How serious is our structural unemployment, skill mismatch problem and what’s the future for our lower-end workers? How serious is our income disparity problem? What are the reasons? Will a minimum wage policy address the issue? Some unanswered questions Is HK too expensive and uncompetitive? Is HK marginalized? Does HK have a future? How serious is our structural unemployment? Will our lower-end workers be able to find work? How serious is HK’s income disparity problem? What are the reasons? Will a minimum wage policy address the issue? * HK’s economy, labour market and income disparityK C KwokGovernment Economist 2 March 2007 Broad-based improvements in labour market Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 11-1 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 0 1 2 3 4 5 6 7 8 9 10 11 Unemployment rate (%) Overall Lower-skilled workers Professional and managerial staff 2006 4.8 4.4 1.9 03Q2 : 8.5 03Q2 : 10.0 03Q2 : 3.8 06 Nov- 07 Jan Financial, and trading and logistics services lead economic growth in recent years 1.6 3.2 1.1 0.8 Real estate and business services 11.1 11.5 13.8 8.9 Communications 9.4 6.0 22.6 -11.0 Restaurants and hotels 10.6 16.1 15.4 7.5 Import and export trades 0.4 11.9 6.8 7.4 8.0 (%) 2005 1.8 2.9 1.3 Community, social and personal services 19.9 21.7 4.6 Financing and insurance 8.0 14.0 1.2 Transport and storage 4.8 7.8 -1.0 Wholesale and retail 8.3 10.1 3.0 Services (%) (%) (%) 2006 Q1-Q3 2004 2001-2003 低收入家庭數目及所佔百分率# Number and share of low-income households# ? ? 註: (#) 界定為每月住戶收入低於4,000元的住戶。 (?) 佔所有家庭住戶的百分率。 Note : (#) Defined as households with monthly household income of less than $4,000. (??) Share in all domestic households. * * *
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