Beijing Municipal People’s Insurance Bureau and the Municipal Statistics Bureau yesterday announced that Beijing’s 2012 annual average wage amounted to 62,677 yuan (US$ 10,028), the average monthly wage was 5,223 yuan (US$ 836), an increase of 11.8% over the previous year.
Rising labor costs
Wage changes reflect the labor supply and labor demand equilibrium relationship. The 2012 annual corporate employment situation survey showed that 60% of companies had raised labor costs, 41.9% of enterprises believed that there were recruitment difficulties. Enterprises tended approach raising wages and improving the employee welfare as a means to deal with “recruitment difficulties”. This is an important factor behind the wage increase.
The top three annual wage positions
Financial sector: 184,612 yuan, 2.18 times of the average;
Information transmission, software and IT services: 130,154 yuan, 1.54 times of the average;
Scientific research, technical services: 106,604 yuan, 1.26 times of the average level.
The least three annual wage positions
Resident services, repairs and other services: 38,838 yuan, 45.8% of the average level;
Agriculture, forestry, animal husbandry and fishery: 39,334 yuan, 46.4% of the average level;
Accommodation and catering industry: 42,016 yuan, 49.6% of the average level.