Geoffrey Yau, founder of Moovup, recently accepted an interview with HK01 to discuss how the front-line job-seeking landscape has shifted as the COVID-19 pandemic passed and Hong Kong’s unemployment rate receded from its high levels. Although economic activities have returned to normal since mid-2023, businesses continue to face difficult operating conditions, and wages are expected to remain at their current levels. He also projected that Hong Kong’s economy would remain stable in the first half of this year, and that a low unemployment rate would continue to make recruiting front-line industry personnel challenging. He suggested that employers should tackle the problem of front-line labor shortages from multiple fronts, such as encouraging more women to re-enter the labor market and advancing automation in front-line operational processes.
Yau pointed out that despite the normalization of economic activities since mid-2023, weak consumer spending and persistently high operating costs have made business operations arduous, leading him to expect that wages will stay at their current levels.
He added that the passing of the pandemic has driven up overall vacancy numbers and lowered the unemployment rate. Combined with a shrinking labor population and an aging demographic, he anticipates that Hong Kong’s economy will remain stable in the first half of this year, while the low unemployment rate will continue to make hiring front-line industry workers difficult.
Yau believes that to address the labor shortage in front-line industries, employers should take a multifaceted approach. This includes encouraging more women to re-enter the workforce, as well as promoting and advancing automation in front-line business processes and operations. On the employees’ side, middle-aged job seekers should also actively participate in skills training provided by employers and leverage their own experience to grow alongside the company’s business, creating a win-win situation.
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