THURSDAY, APRIL 28, 1983
7
WHEN DECEMBER 1982 IS COMPARED WITH SEPTEMBER 1982, THE NOMINAL WAGE INDEXES FOR THE MANUFACTURING SECTOR INCREASED BY 2 PER CENT (PLEASE REFER TO THE ATTACHED TABLE FOR MORE DETAILED BREAKDOWNS), FOR THE WHOLESALE/RETAIL, IMPORT/EXPORT TRADES AND RESTAURANTS AND HOTELS SECTOR BY 2 PER CENT AND FOR THE PERSONAL SERVICES SECTOR BY 1 PER CENT. THERE WAS NO CHANGE IN THE NOMINAL WAGE INDEXES FOR THE TRANSPORT SERVICES SECTOR AND BUSINESS SERVICES SECTOR DURING THE SAME PERIOD.
WITH MARCH 1982 TAKEN AS 100, THE OVERALL REAL WAGE INDEX STOOD AT 99 FOR DECEMBER 1982. THE INDEX REMAINED THE SAME WHEN COMPARED WITH THAT OF BOTH JUNE 1982 AND SEPTEMBER 1982.
THE REAL WAGE INDEXES FOR JUNE, SEPTEMBER AND DECEMBER 1982 FOR SELECTED MAJOR ECONOMIC SECTORS ARE GIVEN BELOW :
INDEXES (MARCH 1982-100)
SELECTED MAJOR ECONOMIC SECTORS
JUNE 1982 SEPT 1982 DEC 1982
MANUFACTURING
99
98
98
WHOLESALE/RETAIL, IMPORT/EXPORT TRADES AND RESTAURANTS AND HOTELS
98
97
98
TRANSPORT SERVICES
BUSINESS SERVICES
PERSONAL SERVICES
ALL SECTORS ABOVE
103
105
103
$ གྷ{ ⌘#
98
96
98
98
99
99
WHEN DECEMBER 1982 IS COMPARED WITH SEPTEMBER 1982, THE REAL WAGE INDEXES FOR THE TRANSPORT SERVICES AND FOR THE BUSINESS SERVICES SECTOR DECLINED, EACH BY 2 PER CENT. THERE WAS NO CHANGE IN THE REAL WAGE INDEXES FOR THE MANUFACTURING SECTOR AND THE PERSONAL SERVICES SECTOR DURING THE SAME PERIOD. ON THE OTHER HAND, THE REAL WAGE INDEXES FOR THE WHOLESALE/RETAIL, IMPORT/EXPORT TRADES AND RESTAURANTS AND HOTELS SECTOR INCREASED BY 1 PER CENT,
BOTH THE NOMINAL WAGE INDEX AND THE REAL WAGE INDEX 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 WAGE INDEX BY THE CONSUMER PRICE INDEX (A), MEASURES CHANGES IN THE PURCHASING POWER OF THE AMOUNT OF MONEY EARNED AS 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 ROUNDINGS).
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