Average wage rate in Hong Kong rises 3.6%

Almost 7 in 10 firms reported average salary rate hikes.

December's average wage rate grew 3.6% in nominal terms over a year earlier, the Census & Statistics Department said.

About 67% of companies reported increases in average wage rates in December compared with a year ago. Thirty per cent recorded decreases, while 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 rose 2.5% in real terms.

The index of payroll per person engaged increased 3.8% in nominal terms in the fourth quarter of 2016 over a year earlier.

After discounting the changes in consumer prices, the average payroll per person engaged rose 2.5% in real terms in the fourth quarter over a year earlier.