University graduates face tough competition and low salaries as they enter Hong Kong’s crowded workforce
A growing problem faced by the youth of Hong Kong (and many other developed Asian cities) is that the number of university graduates is growing faster than the amount of job opportunities for those graduates. The net result is falling wages (new graduates now earn around 10% less than new graduates in Hong Kong earned 25 years ago) and unemployment or underemployment (where a person is over qualified for the job they do) for young graduates in Hong Kong.
The article quotes figures comparing job growth for graduates since 2007 (18%) to the growth in graduates (60%). Questions need to be asked about the types of courses young people are entering and if this is what Hong Kong employer’s need. The fear is the frustration experienced by the young may result in an increase in social problems.