Economics the Hong Kong Government Essay

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Also the overall recession happening in the economies of the world today will make the overall implementation of the policies of wage protection a lot tougher to apply for the company owners and the impact would definitely result in short- and long-term brake wage dynamics across the country. Furthermore, the wage protection structure inadvertently demands skilled labor which in most situations us a good impact but it can and does result in higher levels of unemployment especially in the short-term as employers look to invest directly in skilled labor as opposed to training unskilled labor.

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This of course also leads to the decreased income or wage percentage of the unskilled labor in many situations. Also, the overall recruitment, termination and compensation finances for the skilled labor increase under the wage protection policy, but not at all for the unskilled labor. Basically the wage protection can discourage training programs in companies and hence can be viewed as discriminatory towards the unskilled labor because of the overall difference of the income percentages......

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