Unemployment means the people in the labour force who are unable to find work. It
causes individual social and social-political problems while the unemployed people have
an opportunity to find the suitable job. At a glimpse of the statistics of the Census and
Statistics Department, Hong Kong, there is no fluctuation as at September 2015, the
average of unemployment rate is 3.72% from 1981 to 2015 and it was 3.2 – 3.3% ranging
from June 2014 to October 2015. Besides, the number of unemployed people is 120.5
increased to 137.4 from January to August 2015.
There are several reasons of unemployment such as lay off, mismatch of the job, slow
economic growth or the increase of labour force etc. In January 2015, Standard Chartered
laid off around 200 employees due to the retrenchment of a hundred million U.S. dollars,
after that, Hang Seng Bank laid off 10% of its workers in June 2015 owing to the boost of
profit which led to unemployment.
Unemployment is inevitable because the expenditure of some organisations is large. Lay
off can reduce the production costs like wages, otherwise the accumulated loss will affect
the company’s image and the operation. After the lay off, the unemployed people have to
search for other related job and job search happened. In the lay off cases, the target of lay
off are the senior management, as they are highly educated and seasoned in working,
finding the suitable job for them is not difficult. For instance, they can join different banks
