Because Hong Kong has chosen to have no minimum wage, it has had among the lowest unemployment of all developed nations. It currently sits at 3.4%. Businesses don't set wages arbitrarily, they pay based upon the skills of the worker, and what the market will bear. They can rarely afford to pay more. If these people get their wish of a minimum wage, about half of them will find themselves unemployed - permanently.
Because Hong Kong has chosen to have no minimum wage, it has had among the lowest unemployment of all developed nations. It currently sits at 3.4%. Businesses don't set wages arbitrarily, they pay based upon the skills of the worker, and what the market will bear. They can rarely afford to pay more. If these people get their wish of a minimum wage, about half of them will find themselves unemployed - permanently.
erichaynes88 8 months ago