Hong Kong’s minimum wage sees highest increase ever
Hong Kong’s minimum wage will increase to HK$37.50 (US$4.80) per hour, from the current HK$34.50 (US$4.40).
The 8.7% increase is the biggest increase made since the minimum wage was introduced. The new wage will take effect on 1 May 2019, and is likely to impact about 150,000 workers, largely in the security and service industries.
It is expected that labour costs will increase by some HK$700 million a year.
Mung Siu-tat, chief executive of the Hong Kong Confederation of Trade Unions, said the new rate will not substantially improve the living standards of the lowest-paid, however, despite the record high increase.
Comparatively, in Taiwan, the minimum wage was recently increased to a similar amount at US$4.90.
Australia has the highest minimum wage in the world, at A$18.93 an hour (US$13.60).