March's average wage rate grew 4.1% in nominal terms over a year earlier, the Census & Statistics Department announced today.
About 74% of companies reported increases in average wage rates in March compared with a year ago, while 20% recorded decreases. The remaining 6% 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 2.3% in real terms.
The index of payroll per person engaged increased 4.8% in nominal terms in the first quarter of 2015 over a year earlier.
After discounting the changes in consumer prices, the average payroll per person engaged increased 0.4% in real terms in the first quarter of 2015 over a year earlier.