Massive jobs crunch looms

1) improvement in the general education profile (oversupply)2) retirement of workers with lower education (shortage)3) parents prefer their child to persue their studies at higher level4) teenager not willing to do physical & hard work5) low birth rate & aging population

HK'sHK's society

Local universities

Technology-based industry

Human-based industry

Causes of the situation

EFFECTS

Massive jobs crunch looms

According to the latest government projection, Hong Kong will have an oversupply of brains like diploma, associate degree and research graduates and a shortage of 117,900 workers by 2022. This prediction is mainly based on the change of population which includes the aging popularion,the low birth rate and a 4% of real GDP trend growth.

Summary

- can easily employ suitable professionals- more products are being produced- lower average wage as there is a surplus of workers- more competition between films as there are a lot of skilled worker

- tense competition of diploma courses- difficult to recruit students to study certain subjects e.g. manufacturing- more professionals of certain aspects e.g.associate degree is recruited to follow the trend--> higher cost

- lack of workers- many projects get delayed- need relatively large portion of capital for promotion, recruitment & wages --> increase financial burden

- imbalance of resources allocation to different sectors (e.g. trade & engineering)- face economy downturn as business cannot run smoothly due to inadequate workers of some sectors- projects are delayed, causing slow improvement of environment