Wage Growth in China Being Eaten by Inflation

December 28th, 2010
in Background

China Daily:  Nominal average wage increases of 8.4% expected in 2011 will be only 2-3% in real terms, according to human resource service provider 51job Inc.

Follow up:

The report was based on a survey of 7,372 companies across China and was conducted from October through December. About 89 percent of the companies surveyed said they will give a raise to their employees next year.

"Although salaries are expected to increase, pay raises may fail to keep up with the country's price hikes," said Jennifer Feng, public relations director and chief human resources expert of 51job.China's consumer price index, a major gauge of inflation, rose to a 28-month high of 5.1 percent in November, figures from the National Bureau of Statistics showed. Goldman Sachs predicted that the nation's inflation rate will grow 4.3 percent in 2011.

"Actual pay will rise 2 to 3 percent in view of the current and potential price inflation next year, far less than the forecast of 8.4 percent," said Feng.  Read more.....

 









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