During the period from 1964 to 1974, the cost of living, based on the modified consumer price index, has, on the average, risen by about 85 per cent while average daily wages for industrial workers in manufacturing industries have increased by 163 per cent, making an increase of about 42 per cent during the period, or an average annual increase of 3.5 per cent, in real terms. The following tables show the percentage changes of real average daily wages excluding and including fringe benefits for workers in selected manufacturing industries:—
table II
(excluding fringe benefits)
March March March March March March March March March March March 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974
industry
cotton spinning
cotton weaving
100 109 110 114 113 115 127 142 148 158 145
100 111 118 120 118 119 127 146 158 164 146
(three shifts)
cotton weaving (two shifts) cotton knitting 100 106 113 121| 115 134 153 163 175 176 165
garments
100 107
115 123 120 124 137 150 159 157 136
rubber footwear 100 112 113 125 138 148 160 173 186 178 150 plastic flowers 100 101 101 110 108 115 124 130 139 146 124 100 110 112 118 114 125 123 124 141 152 155 metal torch cases 100 117 130 138 132 141 156 170 198 189 172 electronics
100 113 120 118 115 128 146 157 183 193 172
100 124 115 117 115 123 125 139 164 164 163
enamelware
all manufacturing 100 108 113 117 116 122 134 148 160 162 142
industries
listed above
notes:
1.
2.
3.
The index numbers are obtained by applying to the nominal index numbers the average monthly modified consumer price index for the previous six months. The average monthly modified consumer price index for October to March inclusive is used to calculate the real index for March.
All index numbers are calculated to the nearest point or percentage. No overtime payment is included.
4. The term, worker, includes skilled and unskilled operatives and super- visors as well as service trades such as fitters, mechanics, and electricians. 5. The index is weighted according to the number of workers employed in the month indicated and measures the percentage changes in average daily wages since March 1964.
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