TNAG-1483-FCO40-2037-Economic-situation-in-Hong-Kong-1986 — Page 62

4.11

Payroll per person engaged in the services sectors was, on average, higher by 11% in money terms or 7% in real

terms in June 1986 over June 1985. Of the various services sectors, payroll per person engaged in financing, insurance, real estate and business services increased by 13%

in money

terms or 9% in real terms, that in the wholesale, retail and

import/export trades by 10% in money terms or 7% in real

terms, and that in restaurants and hotels by 4% in money

terms or 1% in real terms during this period.

4.12

Between June 1985 and June 1986, salaries paid from

public funds increased by an average of 10% in money terms or

6% in real terms

while construction wage rates

increased by 6% in money terms or 3% in real terms

(13)

(14)

(13)

(14)

To arrive at the 6% increase in real terms, the rate of increase in consumer prices (as represented by the Consumer Price Index (A)) between June 1985 and June 1986 was used in deflating the increase during the same period of 10% in money terms in salaries paid from public funds. This nominal salary increase was made up of a 3% increase in January 1986 and a 7% increase in April 1986.

Latest information shows that construction wage rates increased by 7% in money terms, or 5% in real terms, between September 1985 and September 1986.

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