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According to the latest statistics released by the Census and Statistics Department, the index of payroll per person increased by 4.6% in the second quarter of 2008 over that of a year earlier. However, when measured against the increase in consumer prices, the average payroll per person decreased by 1.1%. Meanwhile, the average wage rate rose by 3.9%. About 67% of the companies recorded an increase in average wage rates, with 24% recording a decrease in average wage rates. The remaining 9% reported virtually no change. After discounting the increase in consumer prices, the overall average wage rate decreased by 2.1%. This wage rate includes total reward, including basic wages and other regular and guaranteed allowances and bonuses, while payroll includes elements covered by wage rate as well as other irregular payments to workers such as discretionary bonuses and overtime allowances.
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