HK Warns Of Labor Shortage

February 11, 2012, 11:21pm

HONG KONG (AFP) – The Hong Kong government pledged Friday to step up efforts to attract talented workers, after a study showed the Chinese territory is facing a labour shortage due to its ageing population.

The government study forecast a manpower shortfall of 14,000 by 2018, with the workforce growing at a slow annual rate of 0.6 percent, just over half the pace required to maintain an adequate pool of workers.

Hong Kong would need a labor force of 3.6 million in six years to meet demand, it added.

''The government has put in place a host of measures to attract and nurture talents and upgrade the skills of our workforce in order to ensure an adequate manpower supply,'' Labor and Welfare Secretary Matthew Cheung said.

The study showed the labour shortage would not be evenly spread across the workforce.

People with upper-secondary and sub-degree qualifications would be in shortest supply, but there would be a surplus of low-skilled workers.

''It is noteworthy that the growth in both the manpower requirement and supply is projected to tilt towards workers with higher education qualifications,'' Cheung told the Employers' Federation in a speech.

''This is in line with Hong Kong's continued transformation into a knowledge-based economy.''

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