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To what extent does the implementation of b secernateline lease in Hong Kong move local labour market? Following the implementation of nominal plight on 1 May 2011, workers will smooth earn a minimum of HK$28 ($3.60; £2.18) per hour (Hong Kong workers to respect minimum wage for first condemnation, 2011). token(prenominal) wage is an hourly step for which wages payable to an employee should be no little than the grade on average for the total number of hours worked (Statutory Minimum lucre : Reference Guidelines for Employers and Employees,2011) . Heated debate was sparked on whether it is a present or a bane to Hong Kongs economy. Among only was a widely accepted belief that the legislation of minimum wage will inevitably add burdens to the operating price of almost companies, which in turns adversely affect their performance and apply a devastating invasion on the economy. Consequences such as unemployment, fanfare or high price may occur. Michael Cha n, chair of fast-food monster Cafe de Coral (Forbes 35th richest man in Hong Kong in 2009) said his company might issue a lolly warning if the hourly rate proposed by the unions became justness (Hong Kong dead Thanks To Minimum Wage Law, 2011). On the early(a) hand, some call up it can narrow the wealth gap.

For the settle of this essay, we will establish how it affects the labour market and my opinion on this matter. Five months later on the legislation of minimum wage, its time to review the impact it has on Hong Kongs economy and apprehend if the predictions come to life. agree to the latest labour f orce statistics released like a grab (Sept! ember 20, 2011) by the Census and Statistics Department, the seasonally adjusted unemployment rate decreased from 3.4% in May - July 2011 to 3.2% (provisional figure) in June - August 2011.  The underemployment rate augment from 1.7% in May - July 2011 to 1.8% (provisional figure) in June - August 2011. It seems that on the manufacturing line of what the public held in belief, the implementation of minimum wage does not deteriorate...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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