minimumwage ver.new
TRANSCRIPT
Hong Kong Policy Review
Minimum Wage
The story begins when……
Plastic
Flower!!
Little knowledge = $
Knowledge = $$
More knowledge = $$$$$
= increase in labour cost
Transition of Transition of HK Major HK Major IndustriesIndustries
Labour supplyLabour supply
PLUS
Labour supply
Labour supply
Abrupt Labour Abrupt Labour SupplySupply
Environmental Environmental FactorsFactors
SALE
Working poorWorking poor
We need a secured paid!!
What is minimum wage?
Legal lowest limit of wageTo ensure labour are remunerated
with appropriate compensation
How to calculate the min. wage?
Household expenditure x Household expenditure x ____________inflation/deflation______inflation/deflation______44 Working hours (per week)44 Working hours (per week)
With reference of With reference of CSSA……CSSA……HK’s min. wage isHK’s min. wage is……$33-$33-
3535
Pros of min. wage
More protection for labourBetter remunerationSecured job
True?True?
Min. wage: Domestic helper
$2,000$2,000
$4,500$4,500
5 Elements of Competitiveness
1. Academic qualification2. Skills3. Experience4. Age (physical condition)5. Expected salary
Cons of min. wage
Low Academic qualification Workers
&Low Skills Workers
1. Academic qualification
2. Skills
3. Experience
4. Age (physical condition)
5. Expected salary
After Minimum Wage
Cons of min. wage
The needy would be laid off first
Cons of min. wage (con’t)
Illegal workers
Suggestion
Identify those without skill and academic background
Upgrade themProvide training
Suggestion (con’t)
Work with enterprisesCreate new type of work
create work opportunity
After all……
Min. wage can ensure a certain amount of remuneration. However it cannot secure the needy a job.
Only when work opportunity increases and the needy is well-equipped for new career, working poor can be solved.