EMPLOYMENT
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Scheme to provide on-the-job training of six to 12 months to 10 000 young people over a period of two years.
In 2000, the Government conducted a manpower projection to 2005 to gain a clearer picture of Hong Kong's future manpower needs and it is now carrying out a new round in this projection exercise. It will continue to devise measures to provide focused training and thus help upgrade the skills of workers.
At the same time, the Government recognises the need to promote good employer- employee relations, enhance the rights and benefits of employees in a way commensurate with Hong Kong's socio-economic development, and protect the safety and health of employees at work.
Labour Market Situation
In the fourth quarter of 2002, Hong Kong's labour force grew by 2 per cent over the corresponding period of 2001. The labour force stood at 3.5 million, of whom 55.8 per cent were males and 44.2 per cent were females. The seasonally adjusted unemployment rate for the fourth quarter of 2002 was 7.2 per cent while the underemployment rate was 3.1 per cent, as compared with 6.2 per cent and 3 per cent, respectively, a year earlier.
Of those employed, the majority (84.3 per cent) were engaged in the service sectors―31.1 per cent in wholesale, retail and import/export trades, restaurants and hotels; 27 per cent in community, social and personal services; 15.4 per cent in financing, insurance, real estate and business services; and 10.8 per cent in transport, storage and communications. Only 5.7 per cent worked in the manufacturing sector. Owing to a structural shift in employment during the past decade, the number of persons engaged in the service sectors is now over 10 times as many as in the manufacturing sector. In December 2002, 2 002 500 persons were engaged in selected industries in the services sector, which is 0.2 per cent higher than the corresponding figure in 2001. Only 184 500 persons were engaged in the manufacturing sector, a decrease of 9.1 per cent compared with a year earlier.
The printing and publishing industry has become the largest manufacturing industry, engaging 40 000 persons in December 2002, followed by the clothing industry and the electronics industries, which engaged 35 000 and 17 600 persons respectively. Details of the distribution of establishments and persons engaged by selected major industry groups are given in the Appendices.
Employment Situation
During the year, the labour market remained generally slack. The seasonally adjusted unemployment rate increased from 7 per cent in the first quarter of 2002, to 7.2 per cent in the fourth quarter of 2002. Nevertheless, vacancies registered with the Labour Department rose from 175 841 in 2001 to 209 570 in 2002. The department also placed 62 467 job-seekers in employment during the year.
Wages
Wage rates are calculated on a time basis, either daily or monthly, or on an incentive basis according to the volume of work performed. The average wage rate for employees up to the supervisory level, including daily-rated and monthly-rated employees, decreased by 0.8 per cent in money terms between December 2001 and