Hong Kong

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Overall Score

4.5 in 2015 4.5
0 2.5 5 7.5 10

Key Finding

Slowing growth in participation rates and stable net in-migration are indicative of upward pressure in the labour market. Relief is provided by an easing in overall wage pressure, fewer job vacancies and improved education levels.

BREAKDOWN OF SEVEN INDICATOR SCORES

Scores
0 2.5 5 7.5 10
Education
flexibility
1.8
Labour market
participation
6.2
Labour market
flexibility
2.7
Talent
mismatch
5.0
Overall wage
pressure
9.3
Wage pressure in
high-skill industries
6.2
Wage pressure in
high-skill occupations
0.0

COUNTRY OVERVIEW

View from the ground

With Hong Kong being an open economy, it can be susceptible to external factors, and this is highlighted through slower GDP growth due to current global economic conditions, particularly in China. Hong Kong’s position as a leading global financial centre and regional hub remains stable with continuous candidate demand and vacancy activity indicating positive business sentiment. While overall wage pressures have eased slightly in comparison to 2015, talent shortages and increasing regulations have resulted in a tightening in the labour market, and employers must be flexible and innovative to attract top talent.

Dean Stallard, Regional Director, Hays Hong Kong

Dean Stallard, Regional Director, Hays Hong Kong

Country Profile

Hong Kong’s economy displays poor growth rates this year.

Consumer spending, generally the key driver of growth, is falling, while investment is dipping mainly due to a large fall of private investment in machinery and equipment.

However, on the positive side, the labour market remains fairly solid and fiscal policy is now providing support.

Dean Stallard, Regional Director, Hays Hong Kong

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