XN000022-1987-07-12 — Page 4

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SUNDAY, JULY 12, 1987

COMPARED WITH DECEMBER 1986, THE NUMBER OF REPORTED VACANCIES INCREASED BY 85.5 PER CENT, 47.5 PER CENT AND 60 PER CENT FOR THE MANUFACTURING SECTOR: THE WHOLESALE AND RETAIL, IMPORT AND EXPORT TRADES AND RESTAURANTS AND HOTELS SECTOR; AND THE FINANCING. INSURANCE, REAL ESTATE AND BUSINESS SERVICES SECTOR RESPECTIVELY. INCREASE IN THE MANUFACTURING SECTOR WAS PARTICULARLY RAPID.

THE

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

TOTAL QUARTERLY PAYROLL IN

SELECTED MAJOR SECTORS OF THE ECONOMY

1ST QTR. 1986

1ST QTR. 1987

X CHANGE+

1ST QTR. 1987

ON

1ST QTR. 1986

HK$ MN

HK$ MN

MANUFACTURING

8,369

9.471

+13.2

WHOLESALE AND

6,713

7,795

+16.1

RETAIL, IMPORT

AND EXPORT TRADES

AND RESTAURANTS

AND HOTELS

FINANCING,

3,216

3,802

+18.2

INSURANCE,

REAL ESTATE

AND BUSINESS

SERVICES

* BASED ON UNROUNDED PAYROLL FIGURES.

COMPARED WITH THE SAME QUARTER A YEAR AGO, PAYROLL OUTLAYS IN THE ABOVE THREE SECTORS INCREASED BY 13.2 PER CENT, 16.1 PER CENT AND 18.2 PER CENT RESPECTIVELY IN THE FIRST QUARTER OF 1987.

AFTER ADJUSTMENT FOR VARIATIONS IN TOTAL MONTHLY PAYROLL OUTLAYS IN MARCH 1986 AND MARCH 1987, ARISING FROM CHANGES IN THE LEVEL OF EMPLOYMENT, A NOMINAL INDEX OF PAYROLL PER PERSON ENGAGED 18 OBTAINED. TO 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. THESE TWO INDICES FOR MARCH AND MARCH 1987 ARE GIVEN IN THE TABLES BELOW:

1986

NOMINAL INDEX