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Chitchat Too Many Hongkie Uni Grads Can't Find PMET Jobs! No PAP To Save Them!

JohnTan

Alfrescian (InfP)
Generous Asset
HONG KONG: With only a few weeks left on campus, Ms Chloe Hui looked visibly worried.

Clutching a handful of resumes, she went booth to booth at a job fair, talking to any interviewer who would give her a few minutes.

The English major at the Chinese University of Hong Kong has been applying for jobs since December. She has managed to get some interviews, but not a single offer just yet.

“It's much more difficult than I thought,” she told Channel NewsAsia.

Like many graduates in Hong Kong, Ms Hui is the first person in her family to go to university. That used to be a great source of pride for her parents, but now she has been forced to pare back expectations and look for jobs that do not necessarily require a higher degree.

“Like for HR assistants, they don't really need university graduates but I am still applying for it,” she said. “I don't have many choices I think.”

For some others, any permanent job would be good. Mr Benjamin Lam graduated from the prestigious Hong Kong University three years ago with a degree in Risk Management, but has been doing a series of odd jobs ever since.

“Sometimes I feel discouraged,” Mr Lam said. “I think I can support myself, but I can't see any good prospect for a luxury life.”

He is hardly alone. According to one study by the New Forum, graduates’ medium starting salary in Hong Kong declined 20 per cent between 1993 and 2013 when inflation is taken into account. If they want to buy an apartment, the picture is even more dire. When adjusted for the city’s soaring housing prices, graduates’ now make 60 per cent lower than those 20 years ago.

“I feel bad for the young people these days,” said Mr Edward Chen, a Council member at Hong Kong University. “In the old days it's a straight forward path. If you were a university graduate, you were guaranteed a place in the middle class. But today, no.”

hong-kong-graduates-seen-data.jpg


DIMMING ECONOMIC PROSPECTS

A series of social unrests have rocked Hong Kong in recent years. The peaceful Umbrella Movement in 2014, led by university students, shut down the city center for months. Earlier in 2016, a riot broke out in Mongkok. Largely young protestors set cars on fire and hurled bricks at police.

The events have often been linked to Hong Kong’s lack of progress towards democracy, but educators like Mr Chen say dimming economic prospects for the city's youths may also be a key reason.

"We have a large group of frustrated young people, university graduates many of them. It's very easy to persuade them that society is not doing justice to them, and to some extent it might be true."

To be sure, Hong Kong youths are not alone in feeling a sense of hopelessness. Economic stagnation has plagued developed economies around the world. But in Hong Kong, their problems were made worse by what some experts call misguided government policy.

After the Dotcom crash in 2001, Hong Kong’s economy was again hit by the SARS outbreak in 2003. The city’s unemployment rate roared past 8 per cent, putting enormous pressure on the government of Tung Chee-Hwa, the city’s first Chief Executive.

To slow the pace of young people entering the workforce, the government boosted university enrolment rate from 20 per cent to 60 per cent. But unlike a previous round of expansion, the additional slots did not come from the established, taxpayer-funded universities. Instead, a crop of new private schools filled the gap.

Without government funding and unable to charge higher tuitions, Mr Chen said these universities have not been able to match the quality of the city’s eight publicly-funded schools.

“First there are just too many university graduates. Secondly, a large number of the students cannot meet employers’ expectations.”


hong-kong-graduates-seen-data.jpg


LOOK BEYOND HONG KONG?

At the same time, skilled jobs started moving across the border. Even in Hong Kong, many multinationals began hiring mainland Chinese graduates, because they speak better Mandarin and have more in common with mainland clients.

Facing a new reality, some people say Hong Kong’s youths need to look beyond the city in their job hunts.

Mr Paul Mak, President of Hong Kong Shanghai Youth Association, has been trying to get local graduates to work in Shanghai, but that has not proved easy.

“A lot of Hong Kong young people don't consider that especially when it's their first jobs,” he said.

Salaries are usually the first barrier. The starting pay in mainland China is still lower, although Mr Mak said promotions happen faster there, so the pay would eventually catch up.

That said, the cost of relocation is hefty, and Hong Kong graduates would have to rent a place to stay in Shanghai while they can live with their parents in Hong Kong. That means the option is often only available to graduates from wealthy families.

http://www.channelnewsasia.com/news/asiapacific/hong-kong-graduates-face/2982970.html
 

The_Hypocrite

Alfrescian (Inf)
Asset
Boss Sam would say,,if the parents had their own Biz,,,they can give their kids a job and be financially free,,,but seriously,,if getting a degree is no guarantee of a bright future,,society is truly fucked,,,
 

dr.wailing

Alfrescian
Loyal
If they want to buy an apartment, the picture is even more dire. When adjusted for the city’s soaring housing prices, graduates’ now make 60 per cent lower than those 20 years ago.

Hongkie uni graduates should go to Sinkieland to look for jobs which are aplenty. Public housing is very affordable, according to $8 Cow, as a person on a 1,200 SGD montly salary can afford to buy a 3-room HDB flat at today's prices.

A series of social unrests have rocked Hong Kong in recent years. The peaceful Umbrella Movement in 2014, led by university students, shut down the city center for months. Earlier in 2016, a riot broke out in Mongkok. Largely young protestors set cars on fire and hurled bricks at police.

Hongkie grads would find that Sinkieland is very peaceful because there are no social unrests. The only "unrest" that happened in recent memory is the "Little India riot" but it was put down very quickly due to the super efficient Sinkie police force.

Economic stagnation has plagued developed economies around the world. But in Hong Kong, their problems were made worse by what some experts call misguided government policy.

There's no economic stagnation in Sinkieland. On the contrary the Sinkie gabrament has predicted that Sinkieland's economy would grow by about 2.1% next year, an astounding rate for developed economies.

The city’s unemployment rate roared past 8 per cent, putting enormous pressure on the government of Tung Chee-Hwa, the city’s first Chief Executive.

Sinkieland has never had 8% unemployment rate and that's why Prime Ministar a/k/a Chief Natural Aristocrat is never worried or felt pressurized to perform.

Secondly, a large number of the students cannot meet employers’ expectations.”

Sinkies may not meet employers' expectations but Hongkie grads are most welcomed as they're considered foreign talents, a rare resource in resource-starved Sinkieland.

Facing a new reality, some people say Hong Kong’s youths need to look beyond the city in their job hunts.

Totally agree. Hongkie youths should go to Sinkieland to work and start families there. Oh...Sinkieland is so welcoming of foreign talents.

Mr Paul Mak, President of Hong Kong Shanghai Youth Association, has been trying to get local graduates to work in Shanghai, but that has not proved easy.

“A lot of Hong Kong young people don't consider that especially when it's their first jobs,” he said.

Salaries are usually the first barrier. The starting pay in mainland China is still lower,

Totally agree with Mr Paul Mak. Salaries are much lower in mainland China compared to those in HK. But no worry, salaries in Sinkieland are much higher compared to either those in HK or mainland China.

Moreover if HK grads have special skills like porlumpar, their careers are guaranteed to take off in a big way if they work in Teamasick-controlled companies.
 

JohnTan

Alfrescian (InfP)
Generous Asset
Our local graduates have it much better as compared to hongkies and taiwanese graduates. Maybe in the near future, the female hongkies and taiwanese would be coming here to be hookers, blue collared and clerical workers. Sinkies should be grateful for PAP, which set up HDB to ensure sinkies have affordable housing to start families. Look at the poor hongkies.
 

winnipegjets

Alfrescian (Inf)
Asset
Our local graduates have it much better as compared to hongkies and taiwanese graduates. Maybe in the near future, the female hongkies and taiwanese would be coming here to be hookers, blue collared and clerical workers. Sinkies should be grateful for PAP, which set up HDB to ensure sinkies have affordable housing to start families. Look at the poor hongkies.

Affordable housing? Have a pigeon hole but no money to retire.
 

lifeafter41

Alfrescian (Inf)
Asset
HONG KONG: With only a few weeks left on campus, Ms Chloe Hui looked visibly worried.

Clutching a handful of resumes, she went booth to booth at a job fair, talking to any interviewer who would give her a few minutes.

The English major at the Chinese University of Hong Kong has been applying for jobs since December. She has managed to get some interviews, but not a single offer just yet.

“It's much more difficult than I thought,” she told Channel NewsAsia.

Like many graduates in Hong Kong, Ms Hui is the first person in her family to go to university. That used to be a great source of pride for her parents, but now she has been forced to pare back expectations and look for jobs that do not necessarily require a higher degree.

“Like for HR assistants, they don't really need university graduates but I am still applying for it,” she said. “I don't have many choices I think.”

For some others, any permanent job would be good. Mr Benjamin Lam graduated from the prestigious Hong Kong University three years ago with a degree in Risk Management, but has been doing a series of odd jobs ever since.

“Sometimes I feel discouraged,” Mr Lam said. “I think I can support myself, but I can't see any good prospect for a luxury life.”

He is hardly alone. According to one study by the New Forum, graduates’ medium starting salary in Hong Kong declined 20 per cent between 1993 and 2013 when inflation is taken into account. If they want to buy an apartment, the picture is even more dire. When adjusted for the city’s soaring housing prices, graduates’ now make 60 per cent lower than those 20 years ago.

“I feel bad for the young people these days,” said Mr Edward Chen, a Council member at Hong Kong University. “In the old days it's a straight forward path. If you were a university graduate, you were guaranteed a place in the middle class. But today, no.”

hong-kong-graduates-seen-data.jpg


DIMMING ECONOMIC PROSPECTS

A series of social unrests have rocked Hong Kong in recent years. The peaceful Umbrella Movement in 2014, led by university students, shut down the city center for months. Earlier in 2016, a riot broke out in Mongkok. Largely young protestors set cars on fire and hurled bricks at police.

The events have often been linked to Hong Kong’s lack of progress towards democracy, but educators like Mr Chen say dimming economic prospects for the city's youths may also be a key reason.

"We have a large group of frustrated young people, university graduates many of them. It's very easy to persuade them that society is not doing justice to them, and to some extent it might be true."

To be sure, Hong Kong youths are not alone in feeling a sense of hopelessness. Economic stagnation has plagued developed economies around the world. But in Hong Kong, their problems were made worse by what some experts call misguided government policy.

After the Dotcom crash in 2001, Hong Kong’s economy was again hit by the SARS outbreak in 2003. The city’s unemployment rate roared past 8 per cent, putting enormous pressure on the government of Tung Chee-Hwa, the city’s first Chief Executive.

To slow the pace of young people entering the workforce, the government boosted university enrolment rate from 20 per cent to 60 per cent. But unlike a previous round of expansion, the additional slots did not come from the established, taxpayer-funded universities. Instead, a crop of new private schools filled the gap.

Without government funding and unable to charge higher tuitions, Mr Chen said these universities have not been able to match the quality of the city’s eight publicly-funded schools.

“First there are just too many university graduates. Secondly, a large number of the students cannot meet employers’ expectations.”


hong-kong-graduates-seen-data.jpg


LOOK BEYOND HONG KONG?

At the same time, skilled jobs started moving across the border. Even in Hong Kong, many multinationals began hiring mainland Chinese graduates, because they speak better Mandarin and have more in common with mainland clients.

Facing a new reality, some people say Hong Kong’s youths need to look beyond the city in their job hunts.

Mr Paul Mak, President of Hong Kong Shanghai Youth Association, has been trying to get local graduates to work in Shanghai, but that has not proved easy.

“A lot of Hong Kong young people don't consider that especially when it's their first jobs,” he said.

Salaries are usually the first barrier. The starting pay in mainland China is still lower, although Mr Mak said promotions happen faster there, so the pay would eventually catch up.

That said, the cost of relocation is hefty, and Hong Kong graduates would have to rent a place to stay in Shanghai while they can live with their parents in Hong Kong. That means the option is often only available to graduates from wealthy families.

http://www.channelnewsasia.com/news/asiapacific/hong-kong-graduates-face/2982970.html

In the article, it mentioned Hong Kong has eight publicly funded university, was wondering how many does Singapore have apart from nus, ntu and smu.
 

JohnTan

Alfrescian (InfP)
Generous Asset
In the article, it mentioned Hong Kong has eight publicly funded university, was wondering how many does Singapore have apart from nus, ntu and smu.

This shows that there are too many universities in HK. They now have glut of degree holders, many of whom are destined to be underemployed. In Singapore, we have 4 credible universities NUS, NTU, SMU and SDTU. We also have lower tier private universities for those who can't make it to these four. With PAP's careful planning, we have avoided having a glut of degree holders. There's enough PMET jobs to go around and the degree holders largely will continue to support PAP.
 

frenchbriefs

Alfrescian (Inf)
Asset
Humans till this day still do not understand.there is only one economic pie,u can only grow it so much,how u attain the swiss standard of living depends on how u chop it up.only the races that have achieved the ultimate enlightenment can achieve the swiss standard of living,they no longer live for themselves rather towards society as a whole,achieving happiness and prosperity as one nation not the singapore way but the swiss way.
 

extramarital

Alfrescian (InfP)
Generous Asset
The youth in Western countries are also facing the same dilemma. Their university degrees would only get them odd jobs like working at fast food restaurants, shelf restocking at supermarkets, waiters/waitresses at restaurants, cashiers at dry cleaners, driving taxis or Uber, security guards, cleaners, garbage collectors, social escorts, courier drivers, etc. These type of jobs don't require tertiary degrees. And the house prices in major cities are way too high for them to be able to qualify for a mortgage. So, they are perpetual renters with no chance of ever owning their own home! Look at the house prices in Sydney and Vancouver and you'll know what I mean.
 
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frenchbriefs

Alfrescian (Inf)
Asset
The youth in Western countries are also facing the same dilemma. Their university degrees would only get them odd jobs like working at fast food restaurants, shelf restocking at supermarkets, waiters/waitresses at restaurants, cashiers at dry cleaners, driving taxis or Uber, security guards, cleaners, garbage collectors, social escorts, courier drivers, etc. These type of jobs don't require tertiary degrees. And the house prices in major cities are way too high for them to be able to qualify for a mortgage. So, they are perpetual renters with no chance of ever owning their own home! Look at the house prices in Sydney and Vancouver and you'll know what I mean.

it doesnt matter they have their minimum wage to fall back on,and the high taxes and wealth transfers,social security and welfare nets.the truth is society needs all these professions to function,somebody has to work in the restaurants,supermarkets,taxi drivers,cleaners,construction workers and garbage collectors,u cannot have a society where everybody is a doctor,lawyer,banker,architect,managers,executives and white collar professional,who is going to fulfill all the other needs and roles of society?so we pay the people a living wage to carry out these roles and function,and levy a 40 percent tax so that the wealth gets recirculated back into the economy and does not accumulate too much at the top,this way is doesnt matter who does what jobs,everyone fulfills a role in society and they do not get penalised for it.the ang mohs respect each other as a race and individuals,do u think its the same for asian societies?especially chink societies?we look down on each other like rats and animals,and trample and stepped on each other to get to the top,like rats scrambling.

there is another option and that is to import cheaper better faster to do all the dirty and dangerous jobs,that is if u are open to opening the floodgates to hundreds of thousands and millions of third world garbage into ur country,from PRCs to mexicans.ultimately this is bad for everybody in the country,cause if u can replace the lower professions with cheaper better faster,who says u cant replace the higher professions with third world trash?u have shitskins bankers and it professioners,pinoy managers and pinoy and myanmar doctors,sooner or later everybody gets fucked.

as for the home ownership and rent argument,iv never been convinced of one's superiority over the other.but considering home prices are as high as they are in singapore,u are pretty much fucked anyway,just that people choose to restructure their pain and take it in smaller doses over 30 years......if one is inclined in accumulating wealth,one would learn how to be a capitalist and embrace finance and economics,home ownership is a liability and not an asset,it will not get u anywhere........judging by the sky high prices of property prices today it is unlikely that we will experience growth of the previous 30 years proportions again.......unless ur talking about a 4 room HDB flat costing $1.5 million 20 years in the future,when my mom bought her 3 room flat in the 90s it cost 70k,now its 300k,a growth of 400 percent.Sinkies biggest mistake is having the biggest proportion of their networth tied up in their primary mortgage.ur primary residence should be the tiniest part of ur portfolio as possible.......in america u have the option of living in houses that cost 40k to 100k,freeing up most of ur capital and income for investment,sinkies have no choice but to buy one of these overpriced pigeon holes,thereby ensuring them as mortgage slaves and remaining in the cycle of poverty forever and unable to retire!!!! when all ur money is in ur property,how do u put food on the table?rent the house out and live at east coast park??????if i live in a 100k house and own a 400k portfolio of reits and dividend stocks,at least my reits and dividend stocks can feed me!!!!!
 
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krafty

Alfrescian (Inf)
Asset
this piece of news came out in time to pre-empt the sinkie graduates that they are better off than hongkies. another propaganda spotted!:oIo:
 
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