Workers in the first eight months of the year received an average pay raise of 4.7 percent, down from 5.1 percent over the same period last year.

Twelve percent of companies, however, kept wages unchanged or even slashed them, down 2.3 percentage points from the previous year.

The Labor Ministry said labor and management agreed on raises 38.7 percent of the time, or at 2,542 out of 6,561 firms with more than 100 employees. The rate is lower than last year's 43.5 percent.

Non-unionized firms raised wages 5.4 percent, higher than those with unions at 4.2 percent.

Public servants will see a raise of 2.5 percent next year.

The Planning and Budget Ministry’s raise proposal for public officials has received Cabinet approval, and will go to parliament early next month.

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