XN000022-1995-04-21 — Page 13

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Payroll statistics for December 1994

Average labour earnings in all major sectors of the economy taken together, as measured by average payroll per person engaged, recorded a notable increase of 14.3% in December 1994 compared with December 1993, according to statistics released today (Friday) by the Census and Statistics Department.

terms.

After discounting changes in consumer prices, the increase was 4.8% in real

Analysed by industry sectors, average payroll per person engaged in the manufacturing sector increased by 15.3% in nominal terms or 5.8% in real terms between December 1993 and December 1994.

For the wholesale, retail and import/export trades, restaurants and hotels sector, average payroll per person engaged increased by 11.8% in nominal terms or 2.6% in real terms.

Average payroll per person engaged in the transport, storage and communication sector increased significantly, by 24.5% in nominal terms or 14.2% in real terms. This was mainly due to the issue of more year-end bonuses in some transport industries in December 1994 when compared with December 1993.

Average payroll per person engaged in the financing, insurance, real estate and business services sector recorded a more moderate increase of 2.1% in nominal terms, equivalent to a decline of 6.4% in real terms. This was mainly related to a slow-down in real estate and securities business in recent quarters.

For the community, social and personal services sector, average payroll per person engaged increased markedly, by 14.8% in nominal terms or 5.3% in real terms.

Changes in average payroll per person engaged between December 1993 and December 1994 for selected industry sectors, in both nominal and real terms, are shown in the attached table.

Statistics on average payroll per person engaged are compiled at quarterly intervals based on the results of the Labour Earnings Survey conducted by the Census and Statistics Department. The wage indices are also compiled from the same survey at half-yearly intervals for March and September of the year.