EMPLOYMENT
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In terms of employment size, the import and export trade is the largest industry group the services sector, employing 532 913 persons in September. Other major service industry groups include the retail trade, restaurants and business services, which had an employment size of 207 772, 191 870 and 143 334 persons, respectively.
Despite declining employment, the clothing industry remains the largest manufacturing industry, employing 136 789 persons in September. Establishments in the electronics and printing and publishing industries are the next two largest groups of employers in manufacturing, employing 45 896 and 42 621 persons, respectively.
New initiatives launched in 1994 included a pilot scheme to admit 1000 graduate professionals and managers recruited directly from China, to offer some relief for the shortage of people with degree-level qualifications and knowledge of China.
Details of the distribution of establishments and employment by industry group are shown at Appendices 20 and 21, respectively.
Wages
Wage rates are calculated on a time basis, either daily or monthly, or on an incentive basis according to the volume of work performed. The average wage rate for employees up to the supervisory level, including wage-earners and salaried employees, increased by 9.4 per cent in money terms between September 1993 and September 1994. After discounting for rises in consumer prices, the rate increased by 0.8 per cent in real terms.
In September 1994, the average monthly wage rate for the supervisory, technical, clerical and miscellaneous non-production workers in the wholesale, retail, import and export trades, restaurants and hotels sector was $9,423. This represented an increase of 9.9 per cent over the same period in 1993, or 1.3 per cent in real terms.
Over the same period, the average wage rate in the manufacturing sector rose by 8.1 per cent in money terms, equivalent to a decline of 0.4 per cent in real terms. In September 1994, 75 per cent of the craftsmen and operatives in the manufacturing sector received a daily wage of $203 or more; and 25 per cent received $323 or more. The overall average daily wage was $270, or $6,843 per month for these craftsmen and operatives.
Employee Benefits
The Employment Ordinance stipulates employment-related benefits and entitlements including statutory holidays, annual leave, rest days, maternity leave, sickness allowance, severance payment and long-service payment for employees. In addition, some employers provide employees with fringe benefits such as subsidised meals or food allowances, good attendance bonuses, free or subsidised medical treatment, and transport to and from work. Many employees also enjoy a year-end bonus of one month's pay or more under their employment contracts, usually paid just before the Lunar New Year.
Old-age Pension Scheme
Debate on the proposed mandatory Old-age Pension Scheme was widespread. The scheme would provide immediate benefits upon implementation, with income security for all eligible elderly residents, including low-income employees, housewives and retirees. Inflation-proof income, set at a guaranteed basic level, would be available at a modest contribution rate.