The youth unemployed must be one the groups the most in requirement for financial help in Hong Kong. They face willing competition and suffer from the local economic regression, which create difficulty to them earning a living. Young people, on the whole, refers to people in the age groups of 15-19 and 20-24 (Chung Kim-wah 2009). They may be recognized as work force in Hong Kong, but their employment opportunities are not upbeat. Those college leavers in the age of 15-24 entering the labor market have little competitiveness in contrast graduate career seekers, especially when the provision of graduate workers are so abundant in the market (Chung Kim-wah 2009). The unemployment charge of them keeps rising and reached 19. 5% in 2008 (Youth Study Series 2009). These unemployed obtain no income while they require money pertaining to daily bills, creating potential financial burden on them. Facing competition amongst themselves, the young teachers are not any better either. Today, the large number of graduates makes the labor marketplace saturated, featuring the employers so many choices (Chung Kim-wah 2009), in addition a number of them remain obliged to fund their grad loan. The young out of work population, the two graduates and non-graduates, need to compete very for the limited job positions on the market. Such depressed employment prospective client has good relation to Hk economic regression, which causes shrinkage in labor market (Youth Study Series 2009). As the number of task vacancies is definitely declining, more and more young institution leavers and fresh participants enter the marekt seeking for jobs, resulting in increasing unemployment. Both problems of vigorous competition and monetary slowdown can not be easily solved and need a long term economical adjustment. The young jobless have tiny to do to escape from the situation. Financial support from the govt may give momentary but required assistance to these people. The form of economic support offered may impact the extent...
References: Chung, Kim-wah. Huge Supply of Graduates the reason for Youth Joblessness. Ed. Paul Li. China and tiawan Daily, 26 Sept. 2009. Web. twenty-five Nov. 2012..
Youth Research Series No . 41: The effect of Children Unemployment in the middle of the Global Financial Crisis. Rep. Junior Research Hub, Feb. 2009. Web. 25 Nov. 2012..
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