Minimum Wage in Hong Kong

LEE HAN SEONG (Bill) 2010555699 Potential advantages of the minimum profits law in Hong Kong effectuation of a reasonable amount of minimum occupy is necessary for the current situation in Hong Kong. Minimum affiance law prohibits workers or employees hired for less than a presumption hourly, daily or monthly minimum net income (Filion, 2009). Hong Kong is veneer a difficulty of wealth open. Although Hong Kong has a great theme of the financial hub and one of the most affluent cities, its wealth gap is the worst in Asia (Lau, 2009). There are thousands of mint financial backing in chicken coop homes (Leung & angstrom; Long, 2010). Moreover, in 2008, the citys confine homes had risen, and one third of their average monthly income of cage home dwellers had gone on rent (Lau, 2009). Their bosses will pass judgment to pay fewer wages unless certain minimum wage exists. The law minimum wage should be introduced in Hong Kong as it will enhance the existing standard of the poor citizens, take in in benefits for many industries, and will not lead to unemployment. Implementation of the minimum wage will enhance the standard of living for the poorest. In 1996 and 1997, a study conducted in United States strand that minimum wage increased the average minimum wage worker which brings 54 percent more of his or her familys weekly income (Filion, 2009).

In 2006, the poor citizens can only gull below $5.50 per hour, however, in 2008, after the minimum wage increased, their wage raised to above $6 per hour (Filion, 2009). Growth of income motivates and encourages low-income people to work harder, instead of pursuing money through culpable means. It also stimulates their purchasing power. In Chicago, USA, a study fix that as minimum wage was raised, poor citizens spending went up (Filion, 2009). In Hong Kong, there are thousands of people living in cage homes, and over the year of 2009, the citys cage homes had risen by around 20 percent (Leung & Long, 2010). The average monthly income of cage home dwellers was about... If you want to bunk a full essay, order it on our website: Orderessay

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