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Hong Kong businessman happy money

Employees in Hong Kong earned more, worked less in 2014

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Professionals in Hong Kong had a good working year in 2014, with most receiving higher salaries than in 2013 and working fewer hours.

A new set of statistics released by the city’s Census and Statistics Department (C&SD) showed that in May – June 2014, Hong Kong employees earned a median monthly wages of HK$14,800. This was a 5.3% increase from the same period in 2013. The increase was seen across all industries, age groups and genders.

The manufacturing industry saw the highest increase of 7.5%, with younger employees (15-24 years old) receiving the biggest amount of pay rise (7.1%).

When it came to hourly wages, however, employees in the 45-54 age range reported seeing the highest increase in wages of 5.4%.

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“In May – June 2014, the 10th, 25th, 75th and 90th percentile monthly wages of Hong Kong employees were $8,000, $10,500, $23,000 and $37,600 respectively,” the report stated.

“They were 4.1%, 5.0%, 4.1% and 3.9% higher than the corresponding figures in May – June 2013 respectively.”

Men in the city continued to earn more, reporting a 4.6% increase in monthly wages (from $15,800 to $16,500) whereas women saw a 4,5% rise (from $12,200 to $12,700).

The median weekly working hours for both men and women, however, decreased.

Male professionals’ median weekly hours stood at 45.9 hours, a decrease of 4.3% than in 2013.

On the other hand,  women’s median weekly hours were 43.4 hours in 2014, 2.1% lesser than the previous year.

 

Image: Shutterstock

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