Monday, March 19, 2012

Unemployment in Honk Kong

The unemployment rate has risen to 3.4% since the end of February. The highest unemployment rate during the recent global economic downturn was 5.5% in the summer of 2009. Since then the unemployment rate has been falling until this quarter. It is expected to rise in the coming months.

Because of our soaring 8% unemployment rate, I can't help but think that people in Honk Kong really have it good right now. Isn't America's target unemployment rate around 2-3%? Honk Kong is not that far off from that right now, even in these hard times. I am very impressed with the resilience of Honk Kong's economy.


Amy Collyer
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1 comment:

  1. Chet MatsuuraMarch 19, 2012 at 10:38 AM

    I read this article as well, and posted 3 hours after you haha...So I'll add my comments. I really liked the optimism of the graduating students from Hong Kong, and how they feel like they can still be employable even in these hard times. Whereas, there is so much uncertainty in the U.S. right now about the job market. Which makes me speculate that it is a combination of both job availability and selectiveness that is running hand-in-hand to create this problem. ~Chet Matsuura

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