Published:
Average wage rate increases by 3.5% in Q4 2024
Manufacturing saw the highest increase.
The average wage rate for all selected industry sections surveyed increased by 3.5% year-on-year in the fourth quarter of 2024, according to the Census and Statistics Department.
About 63% of the companies reported an increase, whilst 33% of the companies recorded decreases.
Manufacturing saw the highest increase, followed by finance and accommodation and food service.
After discounting the changes in consumer prices as measured by the Consumer Price Index, the overall average wage rate increased by 1.8% YoY in real terms during the period.
Moreover, the index of payroll per person grew by 3.4% YoY in nominal terms.
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