Payroll per person also increased 2.6% in Q4.
It’s a good time to work in Hong Kong as latest wage and payroll statistics released by the Census & Statistics Department reveal that the average wage rate across industries rose 2.1% YoY in December.
The city’s robust economic conditions and tight labour market pushed both nominal and real wages up across major industries.
“Lower-paid workers continued to see relatively faster wage growth in the period alongside the uprating of Statutory Minimum Wage since May 2017,” the press release added.
Six in 10 (67%) of companies also reported an increase in average wage rates in December whilst only 28% of organisations admitted to reducing wage rates.
Only 5% admitted to maintaining the current salary levels for their employees.
Payroll for person also rose 2.6% YoY in Q4. This includes discretionary bonuses and overtime allowances.
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