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Average wage rate rises 4.1%

March 27, 2014

December's average wage rate grew 4.1% in nominal terms over a year earlier, the Census & Statistics Department announced today.

 

About 72% of companies reported increases in average wage rates last December compared with a year ago. Twenty-three percent recorded decreases, while the remaining 5% 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 0.2% in real terms.

 

The index of payroll per person engaged rose 5.3% in nominal terms in the fourth quarter of 2013 over a year earlier. 

 

After discounting the changes in consumer prices, the average payroll per person engaged rose 1% in real terms in the fourth quarter over a year earlier.



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