Workflow
【粤开宏观】工资收入的基本特征、影响因素及政策建议
Yuekai Securities·2024-03-12 16:00

Group 1: Wage Disparities - In 2022, the average annual wage for urban non-private sector units in the internet, finance, and scientific research sectors exceeded 160,000 yuan, while manufacturing, real estate, and other sectors had average wages below 100,000 yuan[3]. - The average wage in urban non-private units varies significantly by industry, with high-paying sectors employing only 10.3% of the workforce, while low-paying sectors account for 40.5%[24]. - The ratio of the highest to lowest average wage in certain industries, such as internet and leasing services, exceeds 4.5 times, while in construction and accommodation, it is less than 2.3 times[26]. Group 2: Tax Implications - The highest per capita personal income tax in 2022 was in the finance, leasing, and internet sectors, while the lowest was in construction, education, and accommodation sectors[7]. - Personal income tax is progressive, meaning higher average wages and greater wage disparities lead to higher per capita income tax in those industries[49]. Group 3: Economic Context - In 2023, the growth rate of per capita disposable income was 6.3%, lower than the 8.8% growth rate in 2019, indicating a slowdown in income growth post-pandemic[30]. - The current economic recovery is characterized by insufficient effective demand and low consumer confidence, impacting wage growth and overall economic stability[33]. Group 4: Policy Recommendations - Strengthening macroeconomic policies focused on stabilizing growth and employment is essential for improving wage levels and overall economic recovery[10]. - Encouraging the vitality of private enterprises is crucial, as they are significant contributors to job creation and wage distribution[10].