XN000022-1989-04-15 — Page 4

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SATURDAY, APRIL 15, 1989

THE

NOMINAL

WAGE

INDEXES FOR THE

PERIOD

1987 ΤΟ TABLE ARE GIVEN IN

DECEMBER DECEMBER 1988 FOR SELECTED MAJOR ECONOMIC SECTORS ARE GIVEN IN

DETAILED BREAKDOWNS FOR THE MANUFACTURING SECTOR

1.

TABLE 2.

CENT

THE OVERALL REAL WAGE INDEX, AT 109.3 IN DECEMBER 1988, WAS 2.3 HIGHER PIR CENT HIGHER THAN THAT IN DECEMBER 1987 AND 0.1 PER THAN THAT IN SEPTEMBER 1988.

THE REAL WAGE INDEXES FOR THE PERIOD DECEMBER 1987 TO 1988 FOR SELECTED MAJOR ECONOMIC SECTORS ARE GIVEN IN TABLE 3.

DECEMBER

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 WORKERS (EXCLUDING

IN SELECTED LEVELS) WHOLESALE/RETAIL, SECTOR, THE TRANSPORT SERVICES SECTOR, THE BUSINESS AND THE PERSONAL SERVICES SECTOR.

SUCH

WORKERS AT THE

INDUSTRIES IN IMPORT/EXPORT

ADMINISTRATIVE AND

THE

NON-MANUAL PROFESSIONAL THE SECTOR, MANUFACTURING

AND RESTAURANTS

HOTELS SERVICES SECTOR

TRADES AND

THE

BY HOLDING

TO INDUSTRY, MARCH 1982,

INDEXES MEASURE CHANGES IN WAGE RATES

RESPECT STRUCTURAL

OF THE LABOUR FORCE WITH PATTERN OCCUPATION, SEX AND MODE OF PAYMENT THE SAME AS THAT OF WHICH IS THE BASE PERIOD OF THE WAGE INDEXES.

WHILE THE NOMINAL WAGE INDEX MEASURES CHANGES IN WAGE RATES MONEY TERMS, THE REAL WAGE INDEX, WHICH IS OBTAINED BY DEFLATING NOMINAL WAGE INDEX BY THE CONSUMER PRICE INDEX (A), MEASURES IN THE PURCHASING POWER OF THE WAGES RECEIVED.

IN

THE

CHANGES

DREW INDEXES AT QUARTERLY

A SPOKESMAN FOR

DEPARTMENT STATISTICS THE CENSUS AND ATTENTION TO THE DIFFERENCE BETWEEN THE WAGE INDEXES AND THE OF PAYROLL PER PERSON ENGAGED WHICH ARE ALSO PUBLISHED INTERVALS.

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

WAGE RATES

THE PER

FOR NORMAL REMUNERATION REPRESENT THE AMOUNT OF

AND SALARIES, HOURS OF WORK, AND ARE DEFINED TO INCLUDE BASIC WAGES

GOOD TIPS, COST-OF-LIVING

MEAL BENEFITS, COMMISSION AND ALLOWANCE, ATTENDANCE BONUS AND NIGHT SHIFT ALLOWANCE.

AND REGULAR

IN ADDITION, YEAR-END BONUS AND OTHER GUARANTEED BONUSES AND ALLOWANCES THAT ARE PAID LESS FREQUENTLY THAN MONTHLY, ARE RATE CONVERTED TO AN EQUIVALENT MONTHLY RATE WHEN COMPILING THE WAGE INDEXES.

TOTAL PAYROLL, ON THE OTHER HAND, IS THE AMOUNT OF DIRECT

APART FROM THE PAYMENTS THAT EMPLOYEES RECEIVE FROM EMPLOYERS. MENTIONED CASH RECEIPTS, IT ALSO INCLUDES OVERTIME PAY AND OTHER GUARANTEED AND IRREGULAR BONUSES AND ALLOWANCES.

CASH

ABOVE

NON-

/HENCE,

STATISTICS