The average wage rate in Hong Kong for all the major sectors surveyed, as measured by the wage index, rose by 2 percent in nominal terms in December 2006 over a year earlier, according to the figures released Tuesday by the Census and Statistics Department of Hong Kong.
About 56 percent of the companies recorded increase in average wage rates in December 2006 compared with a year ago. On the other hand, 29 percent of the companies recorded decrease in average wage rates over the same period. The remaining 15 percent reported virtually no change in average wage rates.
After discounting the increase in consumer prices as measured by the Consumer Price Index, the overall average wage rate for all the major sectors surveyed rose by 0.1 percent in real terms in December 2006 over a year earlier.
As for payroll, the index of payroll per person engaged for all the major sectors surveyed increased by 4.0 percent in nominal terms in the fourth quarter of 2006 over a year earlier.
After netting out the effect of the increase in consumer prices as measured by the Composite Consumer Price Index, the average payroll per person engaged increased by 1.8 percent in real terms in the fourth quarter of 2006 over a year earlier.
The wage rate includes basic wages and other regular and guaranteed allowances and bonuses. Payroll includes elements covered by wage rate as well as other irregular payments such as discretionary bonuses and overtime allowances.
(Xinhua News Agency March 28, 2007)
