According to the latest labour force statistics released today by the HKSAR Government Census and Statistics Department, the seasonally adjusted unemployment rate decreased from 3.4% in January – March 2012 to 3.3% in February – April 2012.The underemployment rate decreased from 1.6% in January – March 2012 to 1.5% in February – April 2012.
Brien Keegan, Director, Randstad—Hong Kong commented, “There is a general sentiment that the Hong Kong economy will pick up this quarter with a much improved picture by the end of Q4. The retail sector—especially the luxury segment—remains very healthy. This is borne out by many global chains establishing a presence for the first time in Hong Kong or expanding through the opening of additional branches.”
However, while Hong Kong’s employment figures paint a very rosy picture when compared to other countries in the region and globally, this presents a whole new set of issues and challenges. According to Randstad’s World of Work Report 2011/2012, 65% of Hong Kong companies are already saying they face skill shortages and 51% rate their ability to meet human capital challenges as average or poor.
Paul Arkwright
Publisher
