Average Wage Rate Rises 3.8%
June's average wage rate grew 3.8% in nominal terms over a year earlier, the Census & Statistics Department announced today.
About 65% of companies reported increase in average wage rates in June compared with a year ago, while 33% recorded decreases. The remaining 2% reported virtually no change.
After discounting the changes in consumer prices as measured by the Consumer Price Index A, the overall average wage rate dropped 0.1% in real terms.
The index of payroll per person engaged increased 4.1% in nominal terms in the second quarter of 2019 over a year earlier.
After discounting the changes in consumer prices, the average payroll per person engaged increased 1.1% in real terms during the same period.
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