December's average wage rate grew 4.2% in nominal terms over a year earlier, the Census & Statistics Department announced today.
About 71% of companies reported increases in average wage rates last December compared with a year ago, while 26% recorded decreases. The remaining 3% 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 2.5% in real terms.
The index of payroll per person engaged rose 3.9% in nominal terms in the fourth quarter of 2014 over a year earlier.
After discounting the changes in consumer prices, the average payroll per person engaged fell 1.1% in real terms in the fourth quarter over a year earlier.
