Hong Kong authority will increase the minimum wage this year to HK$41.8 (USD5. 34) per hour, which is a 4.5 per cent jump over the present wage, SCMP news platform reports.
The report said there would be an introduction of a formula for future adjustment that will not allow pay cuts and also the minimum wage will be reviewed every year rather than every two years at present.
According to a source close to the city’s Minimum Wage Commission, the existing HK$40 hourly rate is ready to be raised by HK$1.80.
The commission was also expected to formalise the review process by introducing a formula which would consider factors such as the consumer price index A, current GDP growth and average GDP growth in the past 10 years, the insider said.
The consumer price index reflects changes in the cost of consumer goods and services generally bought by households. Index A relates to about 50 per cent of households in the city, which are in the relatively low expenditure range.
The formula would ensure the future minimum wage was not lowered from the current rate, the source added.
Last year, the minimum wage increased to HK$40(USD5.11) an hour, about 6.7 per cent up from the previous HK$37.50 from May 1.
今年香港最低工資將從每小時40.00港元上調至41.80港元。
根據《南華早報》新聞平台報道，香港當局今年將把最低工資提高至每小時 41.8 港元（5.34 美元），較目前工資上漲 4.5%。
報告稱，未來的調整將引入一個不允許減薪的公式，最低工資標準將每年而不是目前每兩年進行一次審查。
據接近該市最低工資委員會的消息人士透露，現有的每小時40港元的工資準備上調1.80港元。
知情人士稱，預計該委員會還將透過引入一個公式來正式審查流程，該公式將考慮消費者物價指數A、當前GDP成長和過去10年平均GDP成長等因素。
消費者物價指數反映了家庭通常購買的消費品和服務成本的變化。 A指數涉及該市約50%的家庭，這些家庭處於相對較低的支出範圍。
消息人士補充說，該公式將確保未來的最低工資不會從當前水平降低。
去年，最低工資上漲至每小時40港元（5.11美元），較5月1日起的37.50港元上漲約6.7%。
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