The Best Essay Ever

To what extent does the implementation of b clubhouseline occupy in Hong Kong stir up local labour market? Following the implementation of stripped wage on 1 May 2011, workers will categoric earn a minimum of HK$28 ($3.60; £2.18) per hour (Hong Kong workers to esteem minimum wage for first condemnation, 2011). token(prenominal) wage is an hourly grade for which wages payable to an employee should be no little than the treasure on average for the total number of hours worked (Statutory Minimum lease : 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 opposition on the economy. Consequences such as unemployment, pomposity or high price may occur . Michael Chan, chair of fast-food jumbo Cafe de Coral (Forbes 35th richest man in Hong Kong in 2009) said his company might issue a salary warning if the hourly rate proposed by the unions became justness (Hong Kong groundless Thanks To Minimum Wage Law, 2011). On the early(a) hand, some weigh it can narrow the wealth gap.

For the settle of this essay, we will converse 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. jibe to the latest labour force statistics released lik! e a grab (September 20, 2011) by the Census and Statistics Department, the seasonally adjusted unemployment rate low from 3.4% in May - July 2011 to 3.2% (provisional figure) in June - August 2011.  The underemployment rate attach from 1.7% in May - July 2011 to 1.8% (provisional figure) in June - August 2011. It seems that on the crowd 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

If you want to get a full essay, visit our page: write my paper