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BIZCHINA / Top Biz News |
Chinese workers' salaries increase the fastestBy Hao Zhou (chinadaily.com.cn)
Updated: 2007-08-10 17:27 HayGroup, a global influential management consultancy, forecast that China will top the world in terms of salary growth this year. Chinese workers' salaries surged an average of 7.94 percent in 2006, are predicted to surge another 7.70 in 2007, according to Mercer, one of the world's largest consulting companies. Meanwhile, a study done by human resources department of Chinahr.com showed an average 4.94 percent increase in Chinese salaries during the first half this year. Compared with the second half of last year, the medium- and low-leveled income went from 2.05 to 4.19 percent, the medium level from 4.19 to 10.74 percent, and the medium- and high-level from 5.13 to 7.47 percent. Considering different industries, the salary growth in consumer goods related jobs, especially those with short reproduction cycles, rose 11.83 percent, and concentrated on the medium- and high-level. But there was also some decline in certain industries despite the encouraging figures. In the real estate market, staff salaries at all levels stumbled, down 5.72 percent in the first half year. Although the house prices continued roaring in the first half, a slump in sales directly led to the downturn in salaries. Additionally, salaries increased 2.04 percent in the network industry and dropped 1.65 percent in the medicine industry, although the industries were not strongly affected. |
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