XN000022-1982-10-10 — Page 4

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COMPARING THE FIGURES FOR JUNE 1982 WITH THOSE FOR THE SAME PERIOD IN 1981, THE NUMBER OF REPORTED VACANCIES IN THE WHOLESALE AND RETAIL, IMPORT AND EXPORT, AND RESTAURANTS AND HOTELS SECTOR INCREASED BY 4 PER CENT. HOWEVER, DECREASES OF 35.8 PER CENT AND 12.7 PER CENT IN THE NUMBER OF REPORTED VACANCIES WERE REGISTERED IN THE MANUFACTURING SECTOR AND THE FINANCE, INSURANCE, REAL ESTATE AND BUSINESS SERVICES SECTOR RESPECTIVELY.

COMPARING THE FIGURES FOR JUNE 1982 WITH THOSE FOR MARCH 1982, THE NUMBER OF REPORTED VACANCIES DECREASED IN ALL OF THE ABOVE SECTORS. THE DECREASES IN THE MANUFACTURING SECTOR, THE WHOLESALE AND RETAIL, IMPORT AND EXPORT, AND RESTAURANTS AND HOTELS SECTOR, AND THE FINANCE, INSURANCE, REAL ESTATE AND BUSINESS SERVICES SECTOR WERE 38.8 PER CENT, 26.8 PER CENT AND 39.0 PER CENT RESPECTIVELY.

ALSO AVAILABLE FROM THE SURVEY ARE STATISTICS ON MONTHLY PAYROLL OUTLAYS IN THE MANUFACTURING SECTOR, THE WHOLESALE AND RETAIL, IMPORT AND EXPORT, AND RESTAURANTS AND HOTELS SECTOR, AND THE FINANCE, REAL ESTATE AND BUSINESS SERVICES SECTOR. QUARTERLY TOTALS FOR EACH OF THESE SECTORS ARE SHOWN IN THE FOLLOWING TABLE:

TOTAL QUARTERLY PAYROLL IN

PERCENTAGE CHANGE

SECTOR OF THE ECONOMY

2ND QTR. 1981

HK$ MN

2ND QTR. 1982

HK$ MN

2ND QTR. 1981

2ND QTR. 1982

ON

MANUFACTURING

4 654

5 091

9.4

WHOLESALE AND

2 438

3 056

+ 25.4

RETAIL, IMPORT

AND EXPORT AND

RESTAURANTS

AND HOTELS

FINANCE,

1 241

1 694

+ 36.5

INSURANCE

REAL ESTATE

AND BUSINESS

SERVICES

RELATIVE TO THE SAME QUARTER A YEAR AGO, PAYROLL OUTLAYS IN THE ABOVE THREE SECTORS INCREASED BY 9.4 PER CENT, 25.4 PER CENT AND 36.5 PER CENT RESPECTIVELY. THE INCREASE IN THE FINANCE, INSURANCE, REAL ESTATE AND BUSINESS SERVICES SECTOR AT 36.5 PER CENT, WAS PARTICULARLY RAPID. SUCH A SUBSTANTIAL INCREASE WAS IN PART DUE TO A RAPID INCREASE IN EMPLOYMENT.

TO ADJUST FOR VARIATIONS IN TOTAL PAYROLL OUTLAYS ARISING FROM CHANGES IN THE LEVEL OF EMPLOYMENT, A NOMINAL INDEX OF PAYROLL PER PERSON ENGAGED IS OBTAINED. TO FURTHER ALLOW FOR THE EFFECTS OF PRICE CHANGES, THE NOMINAL INDEX IS DEFLATED BY THE CONSUMER PRICE INDEX (A) TO GIVE THE REAL INDEX OF PAYROLL PER PERSON ENGAGED. VALUES OF THESE TWO INDICES ARE GIVEN IN THE TABLES BELOW:

/NOMINAL INDEX