XN000022-1987-12-29 — Page 2

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TUESDAY, DECEMBER 29, 1987

JUNE NOMINAL SALARY INDICES RELEASED

THE OVERALL, NOMINAL SALARY INDEX (A); MEASURING CHANGES IN AVERAGE SALARY LEVELS FOR MANAGERIAL AND PROFESSIONAL EMPLOYEES, INCREASED BY 7.7 PER CENT OVER JUNE 1986 TO 146.6 IN JUNE 1987.

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THE OVERALL NOMINAL SALARY INDEX (B), WHICH MEASURES CHANGES IN AVERAGE SALARY LEVELS ONLY FOR THOSE MANAGERIAL AND PROFESSIONAL EMPLOYEES WHO REMAIN IN THE SAME JOB AND IN THE SAME COMPANY IN 1986 AND 1987 WAS 163.1 IN JUNE 1987, REPRESENTING AN INCREASE OF 12.9 PER CENT AS COMPARED WITH JUNE 1986.

THESE WERE THE FINDINGS OF THE SURVEY OF SALARIES AND EMPLOYEE BENEFITS (MANAGERIAL AND PROFESSIONAL EMPLOYEES

EXCLUDING TOP MANAGEMENT) RELEASED BY THE CENSUS AND STATISTICS DEPARTMENT TODAY (TUESDAY).

THESE SALARY INDICES USED JUNE 1983 AS THE BASE PERIOD.

THE RATE OF INCREASE IN THE NOMINAL SALARY INDEX (B) IS USUALLY HIGHER THAN IN THE NOMINAL SALARY INDEX (A) BECAUSE THE NOMINAL SALARY INDEX (A) INCLUDES THE SALARIES OF NEWLY RECRUITED OR PROMOTED EMPLOYEES, WHO TEND TO BE PAID COMPARATIVELY LOWER SALARIES THAN THOSE IN THE SAME RANK.

THE DIFFERENCE RECORDED IN THIS YEAR WAS MORE SIGNIFICANT THAN IN THE PAST BECAUSE A HIGHER LEVEL OF STAFF TURNOVER HAD OCCURRED IN 1987.

COMPARING JUNE 1986 WITH JUNE 1987, THE NOMINAL SALARY INDEX (A) FOR THE MANUFACTURING-ELECTRICITY, GAS AND STEAM SECTOR INCREASED BY 7.4 PER CENT; FOR THE BUILDING AND CONSTRUCTION AND RELATED TRADES SECTOR BY 4.6 PER CENT; FOR THE WHOLESALE-RETAIL AND IMPORT-EXPORT TRADES SECTOR BY 12.3 PER CENT; FOR THE TRANSPORT, STORAGE AND COMMUNICATION SECTOR BY 2.7 PER CENT: AND FOR THE FINANCIAL INSTITUTIONS AND INSURANCE SECTOR BY 10.1 PER CENT.

OVER THE SAME PERIOD, THE NOMINAL SALARY INDEX (B) FOR THE MANUFACTURING-ELECTRICITY, GAS AND STEAM SECTOR INCREASED BY 13.8 PER CENT; FOR THE BUILDING AND CONSTRUCTION AND RELATED TRADES SECTOR BY 11.5 PER CENT; FOR THE WHOLESALE-RETAIL AND IMPORT-EXPORT TRADES SECTOR BY 14.6 PER CENT; FOR THE TRANSPORT, STORAGE AND COMMUNICATION SECTOR BY 9.6 PER CENT; AND FOR THE FINANCIAL INSTITUTIONS AND INSURANCE SECTOR BY 13.7 PER CENT.

/BETWEEN JUNE