Wednesday, July 11, 2012
Compensation Benchmarking: China’s Slowdown has not Affected Salary Growth
China’s GDP growth has moderated to a 7.5 to 8.5% level in 2012 but compensation will grow faster than GDP for the second year in a row. In 2011, average wages in the private sector rose 18.3% and this continued in the first quarter 2012. Part of the reason seems to be that wages and salaries are growing from a very low base. They are 4.2% of the level in the U.S. The other reason seems to be that the labor market is still tight. After all 8% growth is still pretty healthy, even if it is not the double digit range of previous years. (Data and chart from Wall Street Journal May & July articles)
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