LINE

Text:AAAPrint
ECNS Wire

Real wages to rise 6.3 pct in China next year: report

1
2015-12-10 14:21Ecns.cn Editor: Gu Liping

(ECNS) -- Korn Ferry Hay Group, a preeminent global advisory firm, forecasts Chinese workers will see their real wages increase by 6.3 percent in 2016.

Workers around the world are expected to see real wage increases of 2.5 percent next year, the highest in the past three, the report said.

In Asia, real wages are forecast to increase by 4.2 percent– the highest globally. Herein, the largest real wage increases are forecast for Vietnam (7.3 percent), China (6.3 percent) and Thailand (6.1 percent).

Despite an economic slowdown, turbulent stock markets and declining exports, Chinese workers are still set to see an eight-percent salary increase in 2016 due to the rising need for skilled workers and the steady growth of a burgeoning middle class, the report stated, adding that the inflation forecast for China in 2016 is 1.7 percent.

Meanwhile, local governments in China have implemented a new round of minimum monthly wages, with Heilongjiang, Chongqing and Guizhou all granting a more-than-20-percent increase.

Su Nanhai, deputy head of China Association for Labor Studies, said the minimum wage, usually 40 percent to 60 percent of the average social wage, may have seen a continuous increase with the labor force decreasing annually.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.