XN000022-1988-07-15 — Page 16

15

FRIDAY, JULY 15, 1988

THE OVERALL REAL WAGE INDEX, AT 109.4 IN MARCIE 1988, WAS 2.6 PER CENT HIGHER THAN THAT IN MARCH 1987 AND 2.4 PER CENT HIGHOR THAN THAT IN DECEMBER 1987.

4.7

FROM MARCH 1987 TO MARCH 1988, THE REAL WAGE INDEX FOR THE MANUFACTURING SECTOR INCREASED BY 1.6 PER CENT: FOR THE WHOLESALE/ RETAIL, IMPORT/EXPORT TRADES AND RESTAURANTS AND HOTELS SECTOR BY PER CENT; FOR THE TRANSPORT SERVICES SECTOR BY 1.3 PER CENT; FOR THE BUSINESS SERVICES SECTOR BY 5.7 PER CENT: AND FOR THE PERSONAL SERVICES SECTOR BY 6.1 PER CENT.

COMPARING MARCH 1988 WITH DECEMBER 1987, THE REAL WAGE INDEX FOR THE MANUFACTURING SECTOR INCREASED BY 2 PER CENT; FOR THE WHOLESALE/RETAIL, IMPORT/EXPORT TRADES AND RESTAURANTS AND HOTELS SECTOR BY 2.1 PER CENT; FOR THE TRANSPORT SERVICES SECTOR BY 3.2 PER CENT; FOR THE BUSINESS SERVICES SECTOR BY 6.5 PER CENT; AND FOR THE PERSONAL SERVICES SECTOR BY 4.4 PER CENT,

THE REAL WAGE INDEXES FOR THE PERIOD MARCH 1987 TO MARCH FOR SELECTED MAJOR ECONOMIC SECTORS ARE GIVEN IN TABLE 3.

1988

THESE NOMINAL AND REAL WAGE INDEXES ARE DERIVED FROM THE SURVEY OF WAGES, SALARIES AND EMPLOYEE BENEFITS CONDUCTED EACH QUARTER BY THE CENSUS AND STATISTICS DEPARTMENT, COVERING BOTH MANUAL AND NON-MANUAL WORKERS (EXCLUDING WORKERS AT THE ADMINISTRATIVE AND PROFESSIONAL LEVELS) IN SELECTED INDUSTRIES IN THE MANUFACTURING SECTOR, THE WHOLESALE/RETAIL, IMPORT/EXPORT TRADES AND RESTAURANTS AND HOTELS SECTOR, THE TRANSPORT SERVICES SECTOR, THE BUSINESS

SERVICES SECTOR AND THE PERSONAL SERVICES SECTOR.

SUCH INDEXES MEASURE CHANGES IN WAGE RATES BY HOLDING THE STRUCTURAL PATTERN OF THE LABOUR FORCE WITH RESPECT ΤΟ 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 NOMINAL WAGE INDEX BY THE CONSUMER PRICE INDEX (A), MEASURES CHANGES

IN THE PURCHASING POWER OF THE WAGES RECEIVED.

¦

A SPOKESMAN FOR THE CENSUS AND STATISTICS DEPARTMENT DREW ATTENTION TO THE DIFFERENCE BETWEEN THE WAGE INDEXES AND THE INDEXES OF PAYROLL PER PERSON ENGAGED WHICH ARE ALSO PUBLISHED AT QUARTERLY INTERVALS.

HE POINTED OUT THAT WHILE WAGE RATES PROVIDE A MEASURE OF THE UNIT PRICE OF LABOUR, PAYROLL PER PERSON ENGAGED IS A MEASURE OF PER CAPITA EARNINGS.

WAGE RATES REPRESENT THE AMOUNT OF REMUNERATION FOR NORMAL HOURS OF WORK, AND ARE DEFINED TO INCLUDE BASIC WAGES AND SALARIES, COST-OF-LIVING ALLOWANCE, MEAL BENEFITS, COMMISSION AND TIPS, GOOD ATTENDANCE BONUS AND NIGHT SHIFT ALLOWANCE.

/IN ADDITION,