Key facts
- Hong Kong's workforce is expected to shrink by 20,000 people annually for the next 10 years.
- The decline is driven by an aging population and increased emigration.
- Key sectors like healthcare, construction, and elderly care face significant labor shortages.
- The government is considering measures to address the shrinking workforce.
Hong Kong's workforce is anticipated to contract by approximately 20,000 individuals each year for the next decade. This demographic shift is primarily attributed to an aging population and a notable increase in emigration from the city. The projected decline is expected to exacerbate existing labor shortages in critical sectors, including healthcare, construction, and elderly care services. The government is reportedly exploring various strategies to mitigate the impact of this shrinking labor pool.