‘Every dollar counts’: More Hong Kongers fall on hard times as wealth gap grows

Singapore News News

‘Every dollar counts’: More Hong Kongers fall on hard times as wealth gap grows
Singapore Latest News,Singapore Headlines
  • 📰 The Straits Times
  • ⏱ Reading Time:
  • 52 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 63%

One in five people in the city now lives in poverty, a recent report reveals.

HONG KONG – When a Hong Kong woman found herself unexpectedly pregnant and facing unemployment with little savings in late 2023, she did not fully anticipate how hard life was about to get.

She recently returned to her previous part-time role, which she declined to disclose. “But the work is seasonal and uncertain. It’s not sustainable for me as a single mum with a baby.” The poorest 10 per cent of households earned a median HK$1,600 monthly, dropping 54 per cent from 2019. The richest 10 per cent of households earned HK$131,100, 10 per cent more than 2019.

“The government adopts the strategy of targeted poverty alleviation by directing resources to those most in need.”As poverty rises with the recent years of economic instability, Professor Paul Yip of the University of Hong Kong’s warned that it is no longer confined to the traditionally “poor” districts.

Ms Sze Lai Shan, deputy director of the NGO Society for Community Organisation, said more Hong Kongers were becoming poorer for various reasons. Over in Wan Chai, a security guard in his 60s who wanted to be known only as Mr Chan, said he was thankful for his job after being intermittently out of work throughout the pandemic.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

The Straits Times /  🏆 8. in SG

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Learning Cantonese in a Globalized WorldLearning Cantonese in a Globalized WorldThe Straits Times discusses the rise of grassroots initiatives to learn and preserve Cantonese language, amid concerns about its decline in Hong Kong. The article explores how Hong Kongers abroad are using innovative tools like apps, videos, and social media to maintain their cultural identity.
Read more »

Hong Kong outlet Stand News editor jailed for sedition in landmark caseHong Kong outlet Stand News editor jailed for sedition in landmark caseThe US denounced the court’s ruling as “a direct attack on media freedom”.
Read more »

Hong Kong Man Jailed For Wearing Protest Phrases On T-shirtHong Kong Man Jailed For Wearing Protest Phrases On T-shirtA Hong Kong man has been jailed for wearing a T-shirt with protest phrases on it, highlighting the city's increasingly stringent national security laws.
Read more »

South Korea coach Hong denies allegations of preferential treatmentSouth Korea coach Hong denies allegations of preferential treatmentSEOUL : South Korea coach Hong Myung-bo said his appointment was not the result of preferential treatment from the Korea Football Association (KFA).
Read more »

Commentary: The Fed Is making Hong Kong’s billionaire landlords anxiousCommentary: The Fed Is making Hong Kong’s billionaire landlords anxiousProperty tycoons are eager for bigger and faster US rate cuts to facilitate refinancing and avoid fire sales, says Shuli Ren for Bloomberg Opinion.
Read more »

Singapore drops to fourth in Global Financial Centres Index, overtaken by Hong Kong Singapore News -Singapore drops to fourth in Global Financial Centres Index, overtaken by Hong Kong Singapore News -%
Read more »



Render Time: 2025-03-21 22:22:19