Poverty's Growing Impact on Hong Kong's Elderly Employment
Poverty and Its Effects on Elderly Employment in Hong Kong
The issue of poverty in Hong Kong is worsening, with experts calling for significant incentives to keep the elderly population engaged in the workforce. Recent studies indicate that over 1.39 million individuals live in poverty, with many of them being seniors aged 65 and above. This demographic saw a staggering increase in poverty rates, highlighting the urgent need for change.
The Case for Action
The local branch of an international charity has raised alarms regarding the employment rates among the elderly, particularly as the labour force participation rate among impoverished seniors remains at a dismal 3.8%. Comparatively, other nations like Japan and Australia boast higher participation rates.
- Chau Siu-chung, a representative from the labour sector, advocates for governmental support to increase employment opportunities.
- The Employment Programme for the Elderly and Middle-aged encourages businesses to hiring older jobseekers by providing financial aid.
- Encouragement for tax benefits and allowances could stimulate job opportunities among seniors.
Learning from Global Examples
Countries like Singapore and Japan have demonstrated effective strategies in combating the challenges of ageing workforce demographics, including:
- Financial support through tax credits and grants for businesses.
- Retirement policies that incentivize the retention of older workers.
- Community-based resources for temporary employment.
The urgency of these measures cannot be understated, as addressing poverty among the elderly is vital for the welfare of society as a whole.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.