ENG-1991 — Page 136

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EMPLOYMENT

COMPENSATING for the lack of natural resources, Hong Kong's best asset is its people. A stable and motivated workforce is essential to Hong Kong's economic growth. As of September, Hong Kong had a workforce of 2.8 million, of whom 63 per cent were male and 37 per cent female. Of this workforce, 26.5 per cent were engaged in wholesale and retail trades, restaurants and hotels, 9.7 per cent in transport, storage and communications, 8.3 per cent in construction, 8.4 per cent in financing, insurance, real estate and business services, and 26.4 per cent in manufacturing. According to the survey of Employment, Vacancies and Payroll in the Manufacturing Sector conducted in September, 654 662 people were engaged in 46 276 establishments, including some 286 278 people in the textile and wearing apparel sectors, which are the largest employers in the manufacturing industry, with the electronics and fabricated metai products industries being the next two largest employers.

Details of the distribution of manufacturing establishments and of the number of people engaged in them are at Appendices 17 and 18.

Unemployment for the third quarter of 1991 was 2.1 per cent, and underemployment 1.5 per cent. Compared with similar figures in 1990, this showed a slight increase. However, despite this, Hong Kong's labour market remained tight during the year as a result of economic activities continuing at a relatively high level albeit with signs of easing off at times.

New approaches were being adopted by employers to tackle the problem of staff recruitment and retention. Higher wages were offered, particularly in the construction industry and service sector, while a limited number of foreign workers were allowed to be brought in under the Importation of Labour Scheme to help relieve labour shortages in the worst hit trades. The new airport construction project announced during the year is likely to contribute further to the tight labour supply situation in the construction industry and further importation of labour will be required when the airport construction project takes off.

The brain drain problem resulting from emigration in recent years continued to cause concern. To ensure that the lost stock of professionals and experienced personnel could be replenished, the government together with the Hong Kong Institute of Personnel Manage- ment and The Hongkong and Shanghai Banking Corporation established a joint venture company in July to attract qualified manpower from overseas countries, including former Hong Kong residents, to come to Hong Kong to work.

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