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<TABLE border=0 cellSpacing=0 cellPadding=0 width=789><TBODY><TR><TD vAlign=top width=5></TD><TD vAlign=top width=784 colSpan=2>HK inflation prompts call for pay rise
By Leslie Tang | Posted: 19 May 2011 1925 hrs <LINK rel=image_src href="http://www.channelnewsasia.com/imagegallery/store/phpTS3KSy.jpg">
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</TD></TR><TR><TD height=60 vAlign=top></TD><TD class=update height=80 vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR><TD bgColor=#f6f6f6 width=138>Photos </TD><TD bgColor=#f6f6f6 width=47>1 of 1</TD><TD bgColor=#f6f6f6 width=18><INPUT id=btnPrev disabled value="<< Previous" src="/images/butt_previous.gif" width=18 height=15 type=image></TD><TD bgColor=#f6f6f6 width=19><INPUT id=bntPlay value="Play - Stop" src="/images/butt_stop.gif" width=19 height=15 type=image></TD><TD bgColor=#f6f6f6 width=18><INPUT id=btnNext disabled value=" Next >> " src="/images/butt_next.gif" width=18 height=15 type=image></TD></TR></TBODY></TABLE>
Hong Kong skyline</TD></TR><TR><TD></TD><TD class=update></TD></TR><TR><TD></TD><TD></TD></TR></TBODY></TABLE><!-- for Facebook Like function --><TABLE border=0 cellSpacing=0 cellPadding=0 width=510><TBODY><TR><TD colSpan=4><HR align=left color=#dddddd SIZE=1 width=510></TD></TR><TR><TD height=30 vAlign=middle width=510 colSpan=4><?xml:namespace prefix = fb ns = "http://www.facebook.com/2008/fbml" /><fb:like class="fb_like fb_edge_widget_with_comment fb_iframe_widget" href="http://www.channelnewsasia.com/stories/eastasia/view/1129897/1/.html" layout="standard" show_faces="false" width="510" action="recommend"><IFRAME style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 510px; HEIGHT: 22px; BORDER-TOP: medium none; BORDER-RIGHT: medium none" id=f159956b206ca84 class=fb_ltr title="Like this content on Facebook." src="http://www.facebook.com/plugins/like.php?action=recommend&api_key=113370852059819&channel_url=http%3A%2F%2Fstatic.ak.fbcdn.net%2Fconnect%2Fxd_proxy.php%3Fversion%3D2%23cb%3Dfe29b1d99567e%26origin%3Dhttp%253A%252F%252Fwww.channelnewsasia.com%252Ff3578e33e195088%26relation%3Dparent.parent%26transport%3Dflash&href=http%3A%2F%2Fwww.channelnewsasia.com%2Fstories%2Feastasia%2Fview%2F1129897%2F1%2F.html&layout=standard&locale=en_US&node_type=1&sdk=joey&show_faces=false&width=510" frameBorder=0 allowTransparency name=f1e007c88622fbe scrolling=no></IFRAME></fb:like></TD></TR><TR><TD colSpan=4><HR align=left color=#dddddd SIZE=1 width=510></TD></TR></TBODY></TABLE>
HONG KONG: Rising inflation is becoming a top concern for residents of Hong Kong, and to help them cope with the price hikes, civil servants are calling on the government for a pay rise of up to six per cent.
A pay trend survey released on Thursday shows even higher salary increases in the private sector.
Hong Kong's economy has bounced back from the financial crisis, growing by 7.2 per cent in the first quarter - its fastest pace in a year.
But now, residents are under pressure, from inflation.
The government last week raised the inflation forecast from 4.5 per cent to 5.4 per cent this year.
Many residents in Hong Kong said coping with rising costs is one of the biggest worries for them.
One of them said: "I think everyone in Hong Kong is concerned about inflation. Especially the low-income class."
Another said: "It's going to eat into your daily income, so I guess the other question is, will we make enough or save enough to actually pay for the extra cost due to inflation"?
Many said they are hoping for an increase in salaries, to offset the price hikes
Civil servants are among those hoping for a pay rise.
Civil service unions have been calling for a wage increase of between four and six per cent, to help them cope with inflation.
When making pay adjustments, the government takes its cues from the annual Pay Trend Survey, which tracks movements in the private sector.
An independent committee released the results on Thursday, after sampling some 184,000 employees from 116 companies.
The survey shows over the past financial year, the employees polled saw salary increases of between six and almost eight per cent.
A proposed pay rise for civil servants will be decided by Hong Kong's Chief Executive.
It needs to be endorsed by both the Executive Council and the Legislative Council, and will be back dated to April.
-CNA/wk
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By Leslie Tang | Posted: 19 May 2011 1925 hrs <LINK rel=image_src href="http://www.channelnewsasia.com/imagegallery/store/phpTS3KSy.jpg">
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HONG KONG: Rising inflation is becoming a top concern for residents of Hong Kong, and to help them cope with the price hikes, civil servants are calling on the government for a pay rise of up to six per cent.
A pay trend survey released on Thursday shows even higher salary increases in the private sector.
Hong Kong's economy has bounced back from the financial crisis, growing by 7.2 per cent in the first quarter - its fastest pace in a year.
But now, residents are under pressure, from inflation.
The government last week raised the inflation forecast from 4.5 per cent to 5.4 per cent this year.
Many residents in Hong Kong said coping with rising costs is one of the biggest worries for them.
One of them said: "I think everyone in Hong Kong is concerned about inflation. Especially the low-income class."
Another said: "It's going to eat into your daily income, so I guess the other question is, will we make enough or save enough to actually pay for the extra cost due to inflation"?
Many said they are hoping for an increase in salaries, to offset the price hikes
Civil servants are among those hoping for a pay rise.
Civil service unions have been calling for a wage increase of between four and six per cent, to help them cope with inflation.
When making pay adjustments, the government takes its cues from the annual Pay Trend Survey, which tracks movements in the private sector.
An independent committee released the results on Thursday, after sampling some 184,000 employees from 116 companies.
The survey shows over the past financial year, the employees polled saw salary increases of between six and almost eight per cent.
A proposed pay rise for civil servants will be decided by Hong Kong's Chief Executive.
It needs to be endorsed by both the Executive Council and the Legislative Council, and will be back dated to April.
-CNA/wk
</TD></TR></TBODY></TABLE>
