Hong Kong degree graduates' average annual salary growth slowed to a five-year low of 2% in 2025, reaching HK$28,000 monthly, as underemployment hit a record high. Engineering and technology graduates saw earnings drop, with an expert linking this to AI replacing entry-level jobs.
Australia's unemployment rate held at 4.4% in June, with 76,000 new jobs, largely part-time, pushing underemployment to 6.5%. Economists view the labor market as resilient but anticipate a rate hike from the RBA in August due to persistent inflation concerns.
Software engineers face anxiety and uncertainty as AI transforms the industry, diminishing the value of traditional coding skills. Many are adapting by focusing on AI code evaluation, seeking new skills, or exploring collective action and career changes.
Hong Kong's unemployment rate fell to 3.7% in Q1 2026, down 0.1 percentage point from the previous quarter, marking a second consecutive decline. The underemployment rate also decreased to 1.6%. The accommodation services sector recorded a notable drop in unemployment while the foundation and superstructure sector saw improvement in underemployment. Labour and Welfare Secretary Chris Sun Yuk-han said the labour force and total employment decreased slightly, but sustained economic growth should underpin the labour market.
