Hong Kong’s manpower supply to rise to 3.58m in 2018
HONG KONG – Hong Kong’s manpower supply is projected to increase at an average annual rate of 0.6 percent from 3.42 million in 2010 to 3.58 million in 2018, the city’s Labor and Welfare Bureau said in the Report on Manpower Projection to 2018 released Friday.
According to the report, manpower supply, aged 55 and above, is projected to increase at an average annual rate of 5.1 percent from 452,800 in 2010 to 672,800 in 2018. The supply of workers aged below 55 is expected to shrink from 2.97 million to 2.91 million, with its share of the supply decreasing from 86.8 percent to 81.2 percent.
Women worker supply is projected to expand at an average annual rate of 1.5 percent from 1.48 million in 2010 to 1.67 million in 2018. The male supply is expected to decrease at an average annual rate of 0.2 percent from 1.94 million in 2010 to 1.91 million in 2018.
The three economic sectors expected to grow fastest are financial services, at an average annual rate of 2.5 percent, followed by construction 1.9 percent, and information and communications 1.9 percent as well.