Hong Kong

4.3

in 2017
4.3
  • 0

  • 2.5

  • 5

  • 7.5

Key drivers

Overall wage pressure (8.7)

Although Hong Kong’s overall score has not changed, wage pressures have decreased considerably this year. Wages are expected to grow this year, but at a slower rate nearer to historical norms.

Education flexibility (1.8)

A fall in Hong Kong’s educational flexibility rank put some upwards pressure on the labour market, although Hong Kong’s educational standards remain very high.

Labour market participation (5.6)

Growth in Hong Kong’s participation rate has slowed this year, driven by fl at youth participation rates.

  • Education flexibility
    1.8
    • 0

    • 2.5

    • 5

    • 7.5

  • Labour market participation
    5.6
  • Labour market
    flexibility
    2.6
  • Talent mismatch
    5.0
  • Overall wage pressure
    8.7
  • Wage pressure in
    high-skill industries
    6.2
  • Wage pressure in
    high-skill occupation
    0.0

Dean Stallard
Managing Director, Hays Greater Bay Area

News and press

Global press release

View from the Ground

Recruitment in Hong Kong has been active with economic growth picking up notably across 2017. Hong Kong, having one of the freest labour markets and most open economies, has continued to welcome an influx of new companies and subsidiaries, mainly from Mainland China, to create numerous headcounts in all functions. The unemployment rate has been at its lowest in 20 years and kept wage growth relatively robust at around 4% per year. Population increases and continued economic expansion are likely to keep labour market conditions in Hong Kong buoyant for the medium term. Longer term, the ageing population is likely to start becoming a limiting factor for labour supply, with total population stagnation and then decline projected beyond 2050.

Dean Stallard, Managing Director, Hays Greater Bay Area

COUNTRY profile

Economic growth in Hong Kong picked up notably across 2017, boosting demand for labour from corporates.

It has helped bring down the unemployment rate to its lowest in 20 years and kept wage growth relatively robust at around 4% per year.

Population increases and continued economic expansion are likely to keep labour market conditions in Hong Kong buoyant for the medium term. Longer term, the ageing population is likely to start becoming a limiting factor for labour supply, with total population stagnation and then decline projected beyond 2050.

Key skills in demand

  • Advanced Analytics/Data Scientists
  • Privacy Lawyers
  • Retail Banking Relationship Managers
  • Technical Skills in Medical Affairs/Regulatory Affairs
  • Digital Transformation Project Managers

News and press

Global press release