According to the Sunday edition of Ming Pao:
多個勞工團體今早遊行到政府總部，要求政府訂立最低工資及標準工時。
Another story in the same paper, it reported that:
勞工及福利局長張建宗表示，金融危機對勞工市場影響未完全浮現，香港不能倖免，預計年底失業率會上升，但未能確定會否差過SARS時的低位。
Alright, let me get this straight, folks here in HK want minimum wage to be introduced right around the time when the ripple effects of the unfolding financial crisis in the US begin to affect the local economy. Nice timing, indeed, eh? Guess if minimum wage were indeed introduced soon, my sense is that uemployment might surge up to say 7-8 percent or even low double digit number.
Just when HK needs all the flexiblity required for prices to adjust efficiently and effectively to the large negative economic shock originated from the financial crisis, some folks here actually believe that instilling inflexible prices is a good thing for Hong Kong people. Shame on them!
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