The seasonally adjusted unemployment rate, which has declined for the third month in a row, currently stands at 5.7 per cent. Looking ahead, a number of major infrastructural projects and government initiatives will come on stream. The latest assessment shows that of the 140,000 new jobs, about 132,000 will fall within the non-Government sector, while the remaining 8,000 are jobs with the Government. Of the 132,000 new jobs, some 74,000 and 58,000 will be created in 2000 and 2001 respectively. At the Task Force meeting, the Financial Secretary also called upon employers to act in the best interest of their employees, and not to take the implementation of the Mandatory Provident Fund System as an opportunity to reduce the benefits of their employees.
Human resource is the most valuable asset for companies.
He also reminded employers that according to the Employment Ordinance, they may not unreasonably vary the terms of employment without the prior consent of their employees. He encouraged employers to discuss the pension arrangements with employees. The Financial Secretary also announced the Government's decision to expand the capacity of the junior information technology assistants pilot course from 170 to 300. The course which is jointly organised by the Vocational Training Council and the Employees Retraining Board, has commenced today. The course was first announced towards the end of last year as a pilot scheme.