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Question: A study on the effects of the statutory minimum wage on the catering industry in Hong Kong. (IB Economics Extended essay) Grade A

Answer: Abstract
This investigation aimed to look at the effects of the imposition of the statutory minimum wage in Hong Kong in May 2011 on unemployment. It also aimed to investigate the type of labour market structure this industry falls into. To do this, data concerning the unemployment rate and the median weekly working hours in the food and catering industry was gathered from the Hong Kong Census and Statistics Department and analysed to form a conclusion. The data showed principally that the general level of unemployment in the food and catering industry actually fell despite the imposition of a minimum wage. This was in contradiction to the standard competitive labour model, which predicts that minimum wages should always result in an increase of unemployment. The data and the model attempted to be reconciled by considering factors such as working hours and lunch breaks. However, the dat...(short extract)

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  • Subject: Economics
  • Course: Economics
  • Level: International Baccalaureate
  • Year: Not applicable
  • Mark: 70%
  • Words: 4604
  • Date submitted: May 20, 2014
  • Date written: October, 2012
  • References: Yes
  • Document type: Essay*
  • Essay ID: 5735

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