TNAG-2977-FCO40-1469-Economic-policy-in-Hong-Kong-1982 — Page 36

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Wages and earnings

4.9

rates.

1982.

The

survey (3)

The reduction in the number of illegal immigrants resulted in a slowing down in the growth rate of labour supply

and in an easing of the pressure of immigration on wage

Coupled with the continued deceleration in the rate of

inflation, manufacturing wage rates in real terms showed some

improvement during the six months ending March

provisional results of the new quarterly wage

however, show that there was no further increase in real terms in the average daily wage rates (including fringe benefits) in

the manufacturing sector between March and June this year.

During the nine months ending June, therefore, there was an

increase of 1% in real terms. This is roughly consistent with

the series of quarterly statistics on

payroll per person employed in manufacturing showed an increase of 2% in real terms during the twelve months ending June. During

the same period, salaries in the tertiary

tertiary services sectors

also continued

For instance, payroll per person

engaged in the finance, insurance, real estate and business

services sector, and in the wholesale and retail (including

to rise.

payroll (4).

/ import/export)

(3) Starting from March 1982, a new quarterly wage survey has replaced the former half-yearly wage survey. Several improvements have been introduced, including the collection of statistics on wage rates at more frequent intervals, the use of a larger sample to achieve a wider industry coverage and higher accuracy in the estimates for each industry covered, and the inclusion of non-manual workers so as to provide a more systematic breakdown of statistics on wage rates by Occupation.

(4) Total payroll is the amount of direct cash payments that employees receive from their employers. It includes wages and salaries, overtime pay, shift allowance, attendance and efficiency bonuses, cost-of-living allowance, food and transportation allowance, year-end and seasonal bonuses, and pay in lieu of leave, etc. Employers' contribution in respect of their employees paid to social security and pension schemes and also the benefits received by employees under these schemes are excluded. Profits earned by proprietors business

pensions;

and payment to outworkers are also

partners;

excluded.

and

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