minimum wage
DESCRIPTION
Presented by Mike Lam and Zinnia YipTRANSCRIPT
Minimum WageBrought to you by:
MacyCalvin
MikeZinnia
Evolution of HK economical environment
What is minimum wageDomestic maidPros and ConsSuggestion
The story begins when……
Little knowledge = $
Knowledge = $$
More knowledge = $$$$$
= increase in labour cost
Labour supplyLabour supply
PLUS
Labour supply
Labour supply
Working poorWorking poor
SALE
We need a secured paid!!
What is minimum wage?
Legal lowest limit of wageTo ensure labour are remunerated
with appropriate compensation
2 common forms of min. wage
1. National Standardized min. wage across the
nation
2. Industrial Different min. wage depends on
different job nature
How to calculate the min. wage?
Household expenditure x Household expenditure x ____________inflation/deflation______inflation/deflation______44 Working hours (per week)44 Working hours (per week)
With reference of With reference of CSSA……CSSA……HK’s min. wage isHK’s min. wage is……$33-$33-
3535
Pros of min. wage
More protection for labourBetter remunerationSecured job
True?True?
Min. wage: Domestic helper
$2,000$2,000
$4,500$4,500
5 Elements of Competitiveness
1. Academic qualification2. Skills3. Experience4. Age (physical condition)5. Expected salary
Cons of min. wage
The needy would be laid off first
Cons of min. wage (con’t)
Illegal workers
Suggestion
Identify those without skill and academic background
Upgrade themProvide training
Suggestion (con’t)
Work with enterprisesCreate new type of work
create work opportunity
After all……
Min. wage can ensure a certain amount of remuneration. However it cannot secure the needy a job.
Only when work opportunity increases, working poor can be solved.