The Bureau of Labor Statistics is not the only data collector to have had problems with jobs numbers: for years, the U.K.’s main economic statistics agency has faced growing scrutiny about how it collects employment data. PREMIUM The U.K.’s Office for National Statistics has struggled to find Britons willing to answer its questions. In the…
Hong Kong is on track to return to an operating account surplus for the 2025-26 financial year, with the result largely fuelled by a surge in stamp duty income from the city’s robust stock market performance, the finance chief has said. Financial Secretary Paul Chan Mo-po made his prediction of a surplus – set to…
Hong Kong is on track to return to an operating account surplus for the 2025-26 financial year, with the result largely fuelled by a surge in stamp duty income from the city’s robust stock market performance, the finance chief has said. Financial Secretary Paul Chan Mo-po made his prediction of a surplus – set to…
Hong Kong’s labour minister has rejected calls to halt the importation of workers amid a manpower shortage across various sectors, despite authorities discovering preliminary evidence in two cases of companies dismissing local employees after bringing in staff from outside the city. Secretary for Labour and Welfare Chris Sun Yuk-han on Sunday reiterated that the Enhanced…
Stocks ended a holiday-shortened trading week at record highs as a better-than-expected June jobs report cooled fears of a broader slowdown brewing in the US economy. The S&P 500 (^GSPC) rose 1.7% to end the week at a record close of 6,279.35. The Nasdaq Composite (^IXIC) also popped about 1.6% and ended the week at…
Hong Kong will roll out the first stage of a pilot scheme in the next few weeks that will use data from more than 10,000 households caring for the elderly or those with disabilities to identify high-risk cases in need of extra support. Secretary for Labour and Welfare Chris Sun Yuk-han also said on Saturday…
The June jobs report is expected to show hiring slowed while the unemployment rate moved higher. The data’s release will come as investors closely watch for any further signs of slowing in the US labor market amid growing debate over when the Federal Reserve will cut interest rates next. Read more: How the Fed rate…
Hong Kong catering and construction unions have called for a review of the labour import scheme amid high jobless rates in the sectors, with some local employees complaining about being replaced or forced to work fewer days after cheaper staff from outside the city were recruited. Chau Sze-kit, chairman of the Hong Kong Construction Industry…
Hong Kong’s residential property market is poised for a recovery after enduring a seven-year downturn, according to Morgan Stanley. Home prices in the city are set to bottom out, driven by an influx of mainland Chinese buyers, improved capital markets and a recent plunge in interest rates, analysts led by Praveen Choudhary said in a…
A local labour union has urged the Hong Kong government to review its imported labour policy after a survey revealed that more than half of catering workers lost their jobs following the Lunar New Year, while the percentage of employers hiring non-local workers trebled. The survey, jointly conducted by the Federation of Hong Kong and…