Employers will raise pay 4.4pc, survey finds
Salary increases expected later in the year will be bigger than January's bump of 4.1 per cent
Annual pay rises given to local workers in January averaged 4.1 per cent, down 0.4 of a percentage point from the previous year, according to an Employers' Federation of Hong Kong survey.
But pay rises planned for later in the year will increase to an average of 4.4 per cent, according to the survey, parts of which were released yesterday.
But the bumps would not mean much, one unionist lawmaker said, as the government predicts inflation of 4.5 per cent this year.
The survey covered 93 companies in nine industries, the federation said.
Banks and financial services companies awarded pay increases of 2.5 per cent on average, while those in property and construction paid 5 per cent.
Some construction companies were planning to give a 5.7 per cent pay rise.
Federation chairman Pang Yiu-kai said: "A good team is vital for every company. We consider that good employment practices are as important as pay when it comes to attracting and retaining high-calibre staff."