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PRINTTable 1. Hourly compensation costs of manufacturing employees in China, 2002-2008
| Year | National currency basis (Yuan) |
U.S. dollar basis (US$) |
Index1 (US = 100) |
|---|---|---|---|
| 2002 | 4.74 | 0.57 | 2.1 |
| 2003 | 5.17 | 0.62 | 2.2 |
| 2004 | 5.50 | 0.66 | 2.3 |
| 2005 | 5.95 | 0.73 | 2.4 |
| 2006 | 6.44 | 0.81 | 2.7 |
| 20072 | 8.06 | 1.06 | 3.4 |
| 2008 | 9.48 | 1.36 | 4.2 |
1 The index represents hourly compensation costs in China as a percent of hourly compensation costs for all employees in U.S. manufacturing.
2 Break in series. Data for town and village enterprises (TVEs) include self-employed workers prior to 2007. Data for 2007 and 2008 exclude self-employed workers.
Table 2. Hourly compensation costs of manufacturing employees in China, by type of enterprise, 2002-2008
| Type of enterprise | Yuan | ||||||
|---|---|---|---|---|---|---|---|
| 2002 | 2003 | 2004 | 2005 | 2006 | 20071 | 2008 | |
| Total, manufacturing urban units and TVEs2 Manufacturing urban units Manufacturing TVEs |
4.74 7.87 3.40 |
5.17 8.86 3.63 |
5.50 9.86 3.73 |
5.95 10.63 4.05 |
6.44 11.73 4.24 |
8.06 13.89 4.89 |
9.48 16.53 5.67 |
| U.S. dollars | |||||||
| 2002 | 2003 | 2004 | 2005 | 2006 | 20071 | 2008 | |
| Total, manufacturing urban units and TVEs Manufacturing urban units Manufacturing TVEs |
0.57 0.95 0.41 |
0.62 1.07 0.44 |
0.66 1.19 0.45 |
0.73 1.30 0.49 |
0.81 1.47 0.53 |
1.06 1.83 0.64 |
1.36 2.38 0.82 |
1 Break in series. Data for town and village enterprises (TVEs) include self-employed workers prior to 2007. Data for 2007 and 2008 exclude self-employed workers.
2 "TVEs" stands for Town and Village enterprises
Chart 1. Hourly compensation costs of manufacturing employees in selected economies and regions, 2008
NOTE: Hourly compensation cost estimates for China are not directly comparable with estimates for other countries. "East Asia excluding Japan" comprises the Republic of Korea, the Philippines, Singapore, and Taiwan. "Euro Area" refers to European Union member countries that had adopted the Euro as the common currency as of January 1, 2009.
Source: US Bureau of Labor Statisitcs
