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Hong Kong – Labour force to peak in 2018 then decline

05 July 2013

Hong Kong’s Chief Executive, CY Leung, has warned that the labour force is expected to increase gradually over the next five years, before starting a prolonged decline in 2018. Mr Leung warned that the manner in which the problem is addressed will have implications for Hong Kong’s economic development, according to Presswire.

“We need to strike a balance between the development of tourism and our capacity, and there is a lack of capacity, also pressure, on certain parts of Hong Kong. We have to strike a balance, and we will continue to pay attention to the importance of striking a balance between the two. On the question of manpower, obviously we have to be mindful of the overall manpower situation, both the supply and the demand. We have not come up with any decisions yet, but we are aware of the fact that statistically our manpower will peak, in terms of size of the manpower, will peak in about five years’ time. And from [then] on we shall enter a rather long period of decline, again in terms of the size of [our] manpower. This is the second meeting of the Commission, and as soon as we have a decision or policy measure, we will announce it,” said Mr Leung.

This warning comes amid rising social tension in Hong Kong, where marchers congregated on 1 July in an ‘Occupy Central’ protest against the government. The group were protesting against a variety of socio-economic conditions, ranging from social conditions, employment, and affordable housing.   

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