Economic and Social Indicators Wage Rate Index for 4th Quarter and Year 2018

The wage rate index increased by 0.5% or 0.5 point to reach 109.5 in the 4th quarter of 2018 from 109.0 in the 3rd quarter.

Main changes registered in the sub-indices from 3rd Quarter 2018 to 4th Quarter 2018 are:

The wage rate index for the general government sector which accounts for around 34% of the total weight of the wage rate index decreased by 0.6% to reach 103.7 in the 4th quarter of 2018 from 104.3 in the 3rd quarter, mainly explained by recruitment of new employees.

The index for the public sector which comprises general government and public enterprises and accounting for around 46% of the wage rate index, decreased by 0.1% or 0.1 point from 107.1 in 3rd quarter 2018 to 107.0 in 4th quarter 2018.

The index for the private sector which accounts for around 54% of the total weight of the wage rate index increased by 0.9% or 1.0 point from 110.6 in 3rd quarter 2018 to 111.6 in 4th quarter 2018.
Wage Rate Index – Year 2018

The wage rate index for the year 2018, worked out as the average of the quarterly indices went up by 4.4% or 4.5 points to reach 108.3 in 2018 from 103.8 in 2017. The wage rate index for the general government sector increased by 1.5% or 0.5 point to reach 104.3 in 2018 from 102.7 in 2017.

The index for the public sector for the year 2018, worked out to 106.8 compared to 103.6 for the year 2017, representing an increase of 3.2% or 3.3 points.

The index for the private sector for the year 2018, worked out to 109.6 compared to 103.9 for the year 2017 representing an increase of 5.4% or 5.7 points.