- 21.
Payroll and wage statistics for September 1994
Average labour earnings in all major sectors of the economy, as measured by payroll per person engaged, recorded a notable increase of 12.4% in September 1994 compared with September 1993, statistics released today (Friday) by the Census and Statistics Department showed.
terms.
After discounting for changes in consumer prices, the increase was 3.6% in real
In September 1994, the overall wage index covering all major industry sectors After increased by 9.4% in nominal terms compared with September 1993. discounting for changes in consumer prices, the increase in real terms was 0.8%.
Analysed by industry sectors, average payroll per person engaged in the manufacturing sector increased by 11.9% in nominal terms or 3.1% in real terms.
Wages showed a smaller increase of 8.1% in nominal terms, equivalent to a marginal decline of 0.4% in real terms. The larger increase in average payroll was due to more overtime work and the issue of irregular payments in some manufacturing industries in September 1994.
For the wholesale, retail and import/export trades, restaurants and hotels sector, average payroll per person engaged recorded an increase of 5.4% in nominal terms, or a decline of 3.0% in real terms.
The small increase in average payroll in nominal terms in September 1994 was related to the weak retail sales in recent quarters. The wage index for the sector as a whole however still rose by 9.9% in nominal terms or 1.3% in real terms.
Average payroll per person engaged in the transport, storage and communication sector recorded an increase of 12.5% in nominal terms, or 3.7% in real
terms.
The corresponding increases in the wage index for the transport services sector were 10.6% in nominal terms or 1.9% in real terms.
For the financing, insurance, real estate and business services sector, average payroll per person engaged increased by 8.7% in nominal terms, or 0.1% in real terms. Wages showed similar increases. The relatively smaller increases were mainly affected by the consolidation in the real estate and securities markets in recent quarters.