Hong Kong corporations should follow Starbucks' lead and nurture our youth to avoid the trap of low-paying jobs
Opportunities to enhance skills and education are vital to avoid the trap of low-paying jobs
The company is considering extending its programme to the postgraduate level.
Obtaining a university degree provides an edge in securing better employment and improving one's life, based on research in Hong Kong and the United States conducted by my team at the University of Hong Kong. However, investing in tertiary education may not be affordable for some.
In Hong Kong, only 18 per cent of young people are offered government-funded university places. Others need to seek places privately or abroad.
An associate degree costs HK$100,000 to HK$200,000 over two or three years of study, but it might not lead to anywhere. The latest statistics show the unemployment rate among associate degree holders is worse than that of high-school graduates.
This may be due to a mismatch of expectations - employers are not ready to pay higher salaries for associate degree holders, but the graduates think they are worth it.
The mismatch may be related to our lagging and unbalanced economic development.