In 2018, the national average annual wages still maintained a relatively high growth rate, which was attributed to the rapid growth of corporate profits and the efforts of income distribution policies. Nearly half of the provinces raised the minimum wage standard.
On May 14, the National Bureau of Statistics announced the average wage data of urban employed persons in 2018.
Among them, the growth rate of the average annual wage of non-private units of 11.0% was the highest in the past six years; the growth rate of the private sector of 8.3% was the highest in the past three years. Since 2015, the former has grown faster than the latter and has remained so far.
Regardless of whether it is a non-private or private sector, the three industries with the highest average annual wages are information transmission, software and information technology services, finance, scientific research and technology services.
Why does the economic downturn increase?
In 2018, the average annual wage of employed persons in non-private units in urban areas was 82,461 yuan, a nominal increase of 11.0%; the average annual wage of private employees was 49,575 yuan, a nominal increase of 8.3%. These two growth rates were 1 percentage point and 1.5 percentage points higher than 2017 respectively.
Liu Guohong, director of the Institute of Finance and Modern Industry of China (Shenzhen) Comprehensive Development Research Institute, believes that China's economy is facing some downward pressure in 2018, but wage income has not been significantly dragged down, indicating that many policy instruments have played a role. Such as steady growth, stable employment and individual tax reforms, and alleviation of all aspects of the enterprise, many initiatives have enabled many companies to maintain certain wages from operations and benefits.
Meng Canwen, deputy director of the Department of Population and Employment Statistics of the National Bureau of Statistics, explained that under the complicated and severe domestic and international situation in 2018, the national economy was running steadily, the employment situation was generally stable, the efficiency of enterprises was growing rapidly, and the vitality of key groups was stimulated. The income distribution policy has begun to exert its strength, laying a solid foundation for the continued rapid growth of the average wage of urban workers.
In 2018, nearly half of the provinces in the country raised the minimum wage standard, providing bottom-line protection for low-wage groups, and to a certain extent boosting the average wage level of urban workers.
In 2018, at least 15 provinces across the country raised the minimum wage, and many provinces did not. For example, Sichuan, Guangxi, Tibet, Hainan, and Guangdong provinces all raised their prices by more than 200 yuan. Among them, Sichuan and Guangxi were raised in three years, and the first-rate minimum wage was raised by 280 yuan, about 20%, and Guangdong was raised by 250 yuan, up 19.2%.
Liu Guohong analyzed that the minimum wage standard is a signal that the government regulates labor prices. Although most enterprises' wages are higher than this standard, the upward adjustment signal will affect or stimulate the overall social wage level.
Since the beginning of this year, many provinces have continued to increase the minimum wage standard, and the same range is not small. From January 1st, Chongqing's first and second standards were raised by 300 yuan; Shaanxi began to raise 120 yuan from May 1. At present, from the published information, the monthly minimum wages in Shanghai, Beijing, Guangdong, Tianjin, Jiangsu and Zhejiang have exceeded 2,000 yuan.
Wan Lu, an associate researcher at the Guangdong Academy of Social Sciences, believes that wage growth is largely affected by changes in labor supply. In reality, there will be some pressure on enterprises. However, wage growth is conducive to stimulating domestic demand, and it can also force enterprises to transform and upgrade. Promote high-quality economic development.
The data also shows that the average annual wage of non-private employers is higher than that of private units, and since 2015, the former has grown faster than the latter and continues to this day. In this regard, the interviewed experts analyzed that this reflects the differences in management, efficiency and environment. If future policies can tilt the private sector and optimize the environment, it will help to activate its vitality, create employment, and promote the overall society. Wage income growth.
Emerging industry wages grow faster
In the context of a good wage increase in 2018, which industries are the most “golden”?
According to the National Bureau of Statistics, the three industries with the highest average annual wages, whether non-private or private, are information transmission, software and information technology services, finance, scientific research and technology services.
From the perspective of non-private units, the average annual wages of these three industries in 2018 are 147,678 yuan, 129,837 yuan and 123,343 yuan, respectively, 1.79 times, 1.57 times and 1.5 times the national average. The three together with the electricity, heat, gas and water production and supply industries constitute the annual average salary of “100,000 yuan club”.
In the private sector, the average annual wages of the three major industries are 76,326 yuan, 62,943 yuan and 61,876 yuan, although there are certain gaps, but they also reach the national average of 1.54 times, 1.27 times and 1.25 times, respectively. Advantage.
The 21st Century Business Herald reporters combed the data of previous years and found that for a long time, the average wages of urban units in the above three major industries were ranked in the forefront, which can be said to be high-paying industries.
From the data of 2018, scientific research, technical service industry and financial industry all have a place in the ranking of average wage growth rate. The former ranks second in all industries among non-private units; the latter is in private sector. Number one. In other words, the average wages of these two industries are not only high, but also rise very quickly.
Wan Lu believes that the wages of the science and technology service industry are high and growing rapidly, reflecting the improvement in social science and technology innovation returns. On the one hand, with the promotion of innovation, the investment in scientific research has increased in recent years; on the other hand, the integration of production, education and research has developed rapidly, which has promoted innovation and entrepreneurship.
Meng Canwen pointed out that in 2018, the national research and experimental development expenditures increased by 11.6%. The science and technology sector implemented the “distribution service” reform, and the income distribution policy for researchers gradually came into effect, creating conditions for the average wage growth in the scientific research field.
The average wages of emerging industries have grown rapidly. In 2018, the online retail sales of physical goods exceeded 7 trillion yuan, an increase of 25.4% over the previous year. The average annual wage of urban non-private wholesalers and retailers increased by 13.1%. Ranked third.
“Wage is the embodiment of labor value.” Liu Guohong said that as a technology and knowledge-intensive industry, high wages are first paid based on the industry's own high requirements, high threshold and high efficiency. The outstanding performance of wage growth indicates that the government and enterprises are more willing to spend money on innovation, which is regarded as the core breakthrough of high-quality development, which undoubtedly needs to attract more talents.
Of course, some traditional industries also have good performance. For example, among non-private units, the highest annual growth rate in 2018 is the mining industry, which grew by 17.2% to reach 81,429 yuan. Meng Canwen said that in 2018, the supply-side structural reforms were further promoted, and the iron and steel industries and other industries went deep into capacity, the transformation and upgrading of high-energy-consumption and high-pollution industries accelerated, the enterprise benefits improved substantially, and the average wage growth of key traditional industries accelerated.
However, this situation may be subject to variables. The data shows that the profit of coal mining and washing industry in the first quarter of this year was -18.0%, compared with 18.1% in the same period of last year; the oil and gas exploration industry increased by 10.3%, compared with 115.1% in the same period last year.
(Article source: 21st Century Business Herald)