8
TUESDAY, OCTOBER 15, 1985
THE OVERALL REAL WAGE INDEX,
AT 100.4 IN JUNE 1985, WAS 3.8 PER CENT HIGHER THAN IN JUNE 1984 AND 1.1 PER CENT HIGHER THAN IN MARCH 1985.
FROM JUNE 1984 TO JUNE 1985, THE REAL WAGE INDEX FOR THE MANUFACTURING SECTOR INCREASED BY 3.7 PER CENT, FOR THE WHOLESALE- RETAIL. IMPORT-EXPORT TRADES AND RESTAURANTS AND HOTELS SECTOR BY 2.7 PER CENT, FOR THE TRANSPORT SERVICES SECTOR BY 6.9 PER CENT, FOR THE BUSINESS SERVICES SECTOR BY 5.1 PER CENT AND FOR THE PERSONAL SERVICES SECTOR BY 2.6 PER CENT.
COMPARING JUNE 1985 WITH MARCH 1985, THE REAL WAGE INDEX FOR THE MANUFACTURING SECTOR INCREASED BY 1.3 PER CENT, FOR THE TRANSPORT SERVICES SECTOR BY 2.6 PER CENT, FOR THE BUSINESS SERVICES SECTOR BY 2.7 PER CENT AND FOR THE PERSONAL SERVICES SECTOR BY 1.1 PER CENT, WHILE THAT FOR THE WHOLESALE-RETAIL, IMPORT-EXPORT TRADES AND RESTAURANTS AND HOTELS SECTOR DECREASED BY 0.4 PER CENT.
THE REAL WAGE INDEXES FOR THE PERIOD JUNE 1984 TO JUNE 1985 FOR SELECTED MAJOR ECONOMIC SECTORS ARE GIVEN IN TABLE 3.
THESE NOMINAL AND REAL WAGE INDEXES ARE DERIVED FROM THE SURVEY OF WAGES, SALARIES AND EMPLOYEE BENEFITS CONDUCTED EACH QUARTER BY THE CENSUS AND STATISTICS DEPARTMENT COVERING BOTH MANUAL AND NON-MANUAL WORKERS (EXCLUDING WORKERS AT THE ADMINISTRATIVE AND PROFESSIONAL LEVELS) IN SELECTED INDUSTRIES IN THE MANUFACTURING SECTOR, THE WHOLESALE-RETAIL, IMPORT-EXPORT TRADES AND RESTAURANTS AND HOTELS SECTOR, THE TRANSPORT SERVICES SECTOR, THE BUSINESS SERVICES SECTOR AND THE PERSONAL SERVICES SECTOR.
SUCH INDEXES MEASURE CHANGES IN WAGE RATES BY HOLDING THE STRUCTURAL PATTERN OF THE LABOUR FORCE WITH RESPECT TO INDUSTRY, OCCUPATION, SEX AND MODE OF PAYMENT THE SAME AS THAT OF MARCH 1982, WHICH IS THE BASE PERIOD OF THE WAGE INDEXES.
WHILE THE NOMINAL WAGE INDEX MEASURES CHANGES IN WAGE RATES IN MONEY TERMS, THE REAL WAGE INDEX, WHICH IS OBTAINED BY DEFLATING THE NOMINAL WAGE INDEX BY THE CONSUMER PRICE INDEX (A), MEASURES CHANGES IN THE PURCHASING POWER OF WAGES (ALTHOUGH THE SAME DEFLATOR IS USED FOR EACH INDUSTRY TO DERIVE THE REAL WAGE INDEX FROM ITS NOMINAL COUNTERPART, THE DIFFERENCE BETWEEN THE MOVEMENTS OF THE NOMINAL WAGE INDEX AND THE REAL WAGE INDEX BETWEEN ANY TWO TIME PERIODS MAY VARY SLIGHTLY FROM INDUSTRY TO INDUSTRY DUE TO ROUNDING).
A SPOKESMAN FOR THE CENSUS AND STATISTICS DEPARTMENT DREW ATTENTION TO THE DIFFERENCE BETWEEN THE WAGE INDEXES AND THE INDEXES OF PAYROLL PER PERSON ENGAGED WHICH ARE ALSO PUBLISHED AT QUARTERLY INTERVALS.
HE POINTED OUT THAT WHILE WAGE RATES PROVIDE A MEASURE OF THE UNIT PRICE OF LABOUR, PAYROLL PER PERSON ENGAGED IS A MEASURE OF PER CAPITA EARNINGS.
/NAGE RATES