XN000022-1981-01-27 — Page 3

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TUESDAY, JANUARY 27, 1981

NOMINAL INDEX

INCLUDING FRINGE BENEFITS

% CHANGE SEPT 80 OVER

INDUSTRY

SEPT 79 MAR 80

SEPT 80

MAR 80 SEPT 79

MANUFACTURING

185

202

214

+ 5.9

+15.7

TEXTILES

185

205

217

+ 5.9

+17.3

ELECTRICAL APPLIANCES

194

211

225

+ 6.6

+16.0

ELECTRONICS

187

218

226

+ 3.7

+20.9

GARMENTS

182

193

208

+ 7.8

+14.3

GLOVES

166

175

188

+ 7.4

+13.3

HANDBAGS

177

209

208

- 0.5

+17.5

PLASTIC PRODUCTS OTHER

THAN FLOWERS AND TOYS

212

228

231

+ 1.3

+ 9.0

PLASTIC TOYS

180

197

200

+1.5

+11.1

PRINTING

217

226

264

+16.8

+21.7

THE DEPARTMENT ALSO PUBLISHED INDEXES OF REAL (THAT IS, AFTER DISCOUNTING FOR THE EFFECT OF INFLATION) AVERAGE DAILY WAGES FOR MANUFACTURING WORKERS. EXCLUDING FRINGE BENEFITS. THE

INDEX IN SEPTEMBER 1980 WAS 130, REPRESENTING AN INCREASE OF 1 POINT OR 0.8 PER CENT OVER SEPTEMBER 1979 AND NO CHANGE OVER MARCH 1980.

INCLUDING FRINGE BENEFITS, THE INDEX IN SEPTEMBER 1980 WAS 133, REPRESENTING ALSO AN INCREASE OF 1 POINT OR 0.8 PER CENT OVER SEPTEMBER 1979 BUT A DECREASE OF 1 POINT OR 0.7 PER CENT OVER MARCH 1980.

COMMENTING ON THESE INDEXES, A SPOKESMAN FOR THE ECONOMIC SERVICES BRANCH ATTRIBUTED THE APPARENT LACK OF INCREASE IN MANUFACTURING WAGE RATES IN REAL TERMS TO TWO FACTORS: FIRST, THE GROWTH RATE OF THE SUPPLY OF LABOUR WAS RAPID AS A RESULT OF IMMIGRATION SO THAT DESPITE THE GROWTH IN MANUFACTURING EMPLOYMENT IN THE FIRST HALF OF 1980, SUPPLY WAS STILL ABUNDANT. SECONDLY, THE DEMAND FOR MANUFACTURING WORKERS EASED IN THE SECOND HALF OF 1980 UNDER THE INFLUENCE OF UNFAVOURABLE ECONOMIC CONDITIONS IN SOME OF HONG KONG'S MAIN MARKETS.

THE SPOKESMAN