About 200,000 people in Hong Kong don't have a job. In 2005, an estimated 5.6 % of the population was classified as unemployed. The next year, in 2006, the rate dropped to 4.8%. In 2007, the unemployment reached an all new low at 4.0%. The percents are estimated to drop even lower in 2008 and the near future to 3.4%. Although unemployment rates are decreasing and the percentages are small, these rates can cause problems and grew significantly after some time.
|Plan||Pros||Cons||Better Education||People will know how to do what you teach them, giving them confidence to get a job in that field.||It costs money for teachers and educators.|
|Training and Retraining the Unemployed||The unemployed will be more experienced.||It costs money for trainers.|
A school in Hong Kong called Poinsettia School sets many goals to acheive the two points above. They try to promote kids to advance to further schooling and how dropping out may cause unemployment. They also promote understanding of the world and what their role in it is. Lastly, they try to enforce being a good person and being independent as you grow and get a job.
Retirement plans can be very useful when you want to stop working as you age. The bad part of this is that only around 20% of current working citizens can apply for one. Employers can help employees with 10% of the cost.
Unemployment payments are only for people who are registered with the Local Employment Service. These may be family or individuals. Once they are signed up with this service, they may receive payments.
In 1991, 17.1% of the population of children (age 0-14) lived in a low-income, poor household as opposed to 13% in the U.S. In 1996, 22.8% of the population of children lived in a low-income household and only 14% did in the U.S. at that time. In 1998, the rate was 26.8% in Hong Kong, but in the U.S. it was about 13%. The percentage was 25.9% in 2000 and for the U.S., it was roughly 12%. Two years later, in 2002, about 25.5% of the child population dwelled in a poor family household. In 2005, it was 17.7%.