Hong Kong’s unemployment rate hit a nine-year high. Why is the unemployment rate so high this year?

For Hong Kong, which is dominated by the financial industry and tourism industry, a safe and stable social environment is the basic prerequisite for maintaining a rapid economic development and controlling the unemployment rate. However, since last year, Hong Kong has The loss of the peaceful social situation in the past and the continued spread of street violence have directly led to Hong Kong's economic malaise, especially the bad behavior against mainland tourists, which has directly led to a sharp decline in mainland tourists in Hong Kong. When tourism and commerce are the pillar industries of Hong Kong's economy After being hit, it is natural that employment resources are scarce. This is also an objective necessity for Hong Kong's unemployment rate to hit a nine-year high.

Of course, although the financial industry, one of the pillars of the economy, has been affected to a certain extent, it has not yet had a substantial impact overall. However, even so, it is difficult to boost Hong Kong’s employment rate. Make obvious contributions. After all, the financial industry has extremely strict requirements for practitioners in all aspects. In the past few years, young people in Hong Kong have been obsessed with various sports and neglected their studies, resulting in their inability to master the skills after graduation. Without professional skills, in the face of fierce competition in the workplace, we can only accept the cruel reality of being unable to find a job. Therefore, the financial industry alone cannot save Hong Kong's high unemployment rate.

For the service industry and tourism industry, the loss of a safe and stable social environment has been a fatal blow, not to mention the experience of mainland tourists traveling and shopping in Hong Kong. Safety cannot be guaranteed. Affected by this, international tourists from outside the mainland will naturally be affected and reduce the number of trips to Hong Kong. Over time, this will become an objective condition that severely damages Hong Kong’s tourism economy. If they cannot return to Hong Kong in the short term, Given the stable social situation, it is believed that Hong Kong's unemployment rate will continue to rise. In fact, even at this stage, a large number of graduates are unable to successfully find employment opportunities. This is a punishment for the social turmoil in Hong Kong in the past.

It can be seen that the high unemployment rate in Hong Kong is closely related to the stagnation or even decline of the economy. Only when the overall economy gradually recovers can job opportunities increase and the unemployment rate be reduced. However, it is regrettable that There are still no signs of recovery in Hong Kong society. Coupled with the spread of the new crown epidemic around the world, Hong Kong, as an international financial center, has suffered another severe blow. Without the injection of resources and all-round support from the mainland, Hong Kong’s economy has Recovery may not be easy.