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Wages in HK major sectors rise 4% in Sep
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The average wage in Hong Kong's major sectors rose 4 percent year-on-year in September, revealed the Census and Statistics Department's latest figures Monday.

After discounting the decrease in consumer prices, the overall average wage rate grew 4.3 percent in real terms.

About 65 percent of companies recorded a rise in average wage rates compared with the same month last year, with 25 percent of the companies recording falls and the remaining 10 percent reporting virtually no change.

The index of payroll per person engaged for all major sectors increased 5.2 percent in nominal terms in the third quarter over a year earlier, according to the department.

After netting out the effect of the increase in consumer prices the average payroll per person engaged increased by 0.5 percent in real terms.

For the real payroll indices, the year-on-year increases in the wholesale, retail and import-export trades, restaurants and hotels, and financing, insurance, real estate and business services in the third quarter were 0.3 percent and 1.5 percent.

Year-on-year decreases were observed in manufacturing, transport, storage and communications, and community, social and personal services, ranging from 0.6 percent to 2.2 percent.

(Xinhua News Agency December 30, 2008)

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