Editing Minimum wage (section)

===Setting minimum wage===
Among the indicators that might be used to establish an initial minimum wage rate are ones that minimize the loss of jobs while preserving international competitiveness.<ref>{{cite web |title=Provisional Minimum Wage Commission: Preliminary Views on a Bask of Indicators, Other Relevant Considerations and Impact Assessment |publisher=Provisional Minimum Wage Commission, Hong Kong Special Administrative Region Government |url=http://www.labour.gov.hk/eng/rbo/Assessment.pdf |access-date=19 February 2012 |archive-url=https://web.archive.org/web/20120119120419/http://www.labour.gov.hk/eng/rbo/Assessment.pdf |archive-date=19 January 2012 |url-status=dead}}</ref> Among these are general economic conditions as measured by real and nominal gross domestic product; inflation; labor supply and demand; wage levels, distribution and differentials; employment terms; productivity growth; labor costs; business operating costs; the number and trend of bankruptcies; [[Index of Economic Freedom|economic freedom]] rankings; standards of living and the prevailing average wage rate.

In the business sector, concerns include the expected increased cost of doing business, threats to profitability, rising levels of unemployment (and subsequent higher government expenditure on welfare benefits raising tax rates), and the possible [[knock-on effect]]s to the wages of more experienced workers who might already be earning the new statutory minimum wage, or slightly more.<ref>''Setting the Initial Statutory Minimum Wage Rate,'' submission to government by the Hong Kong General Chamber of Commerce.</ref> Among workers and their representatives, political considerations weigh in as labor leaders seek to win support by demanding the highest possible rate.<ref>{{cite news|last=Li |first=Joseph |title=Minimum wage legislation for all sectors |work=China Daily |date=16 October 2008  |url=http://www.chinadaily.com.cn/hkedition/2008-10/16/content_7110239.htm |access-date=19 February 2012 |url-status=live |archive-url=https://web.archive.org/web/20110503235232/http://www.chinadaily.com.cn/hkedition/2008-10/16/content_7110239.htm |archive-date=3 May 2011 }}</ref> Other concerns include [[purchasing power]], inflation indexing and standardized working hours.