How to get a new job in Hong Kong (with an accent)
Two weeks ago, the local economy began to pick up, as many of the major companies relocated or relaunched operations in the area.
The number of overseas employees in Hongkong jumped by about 10% in June to 2,300, according to data from the government.
But the government’s latest jobs report shows that, while the number of people working overseas rose to 3.35 million, it was still a very small number compared to the country’s overall population of about 23 million.
The government also reported that unemployment among those 25 and older fell to 5.7% in the first quarter from 5.9% in April.
In contrast, unemployment among 18-to-24-year-olds rose by 4.7%.
In the third quarter, unemployment for 25-to 59-year olds rose by 6.7%, but the rate of joblessness among younger workers fell by 2.4%.
While Hongkongs overall jobless rate fell to 3% from 4.3%, the number who are actively looking for work rose to 9.7 million from 9.3 million in the same period.
The number of Hongkang residents who are seeking jobs dropped by 4% in that period to 553,000 from 571,000, while employment rose by 7% in other parts of the country.
The numbers have not been released by the Ministry of Manpower, which oversees employment, but the government expects the jobless to fall by a further 5% in 2018.
In addition to the decline in the number looking for jobs, the number applying for work also fell.
According to data released by MMP, the unemployment rate fell from 6.4% in September to 5% by the end of the year.
The MMP data comes as the number seeking work fell by 1.5% in HongKong in the three months to September, according the statistics bureau.
The jobless data also showed that the number working overseas in Hong Kong fell to 2.35million in the third and fourth quarters of 2018 from 2.38million in March, but that it rose to 2 million in May, the data bureau said.
“The increase in the percentage of people outside the country who are unemployed is largely due to the decision by the government to make the Hong Kong SAR a regionally integrated zone, and to make it a more desirable place to work,” the MMP said in a statement.
The Hong Kong government has also implemented a “special job offer” program to help those looking for a new role in the city.
In 2017, more than 1,000 Hong Kongers applied for more than 600 jobs, mainly in finance and real estate.
But in May 2018, Hong Kong became a zone where those seeking jobs in the financial and real-estate sectors were allowed to apply for more.
This year, the government increased the number allowed to work in these sectors from 50,000 to 200,000.
The news comes as China has announced plans to allow the use of the capital city of Shenzhen in the construction of high-speed rail projects in the United States.
The announcement comes just days after Beijing signed a $1.2 trillion deal with a consortium led by China National Offshore Oil Corporation (CNOC) to build a network of high speed rail connecting China to Texas, Louisiana, Ohio and Indiana.
China’s high-capacity rail network, known as the Belt and Road Initiative, has been a cornerstone of President Xi Jinping’s strategy to boost trade and investment between the two countries.
In recent years, China has invested more than $US5 trillion ($6.6 trillion) to expand its rail network and to develop its high-voltage electric-infrastructure infrastructure.
The Belt and Roast project is slated to create 2.6 million jobs and create 10 million permanent construction jobs in China and 5 million jobs for overseas workers, according China’s Ministry of Industry and Information Technology.
The announcement also comes after the U.S. State Department announced that it was ending its support for the Belt & Roast initiative, saying that the administration would be moving to the Asia Pacific Economic Cooperation (APEC) summit next month in Vietnam.