UK pay rises at record low, says Vocalink

Thrugelmir

Squeeze is on standard of living for non bankers.

Private sector pay at UK listed companies has risen at the slowest rate on record, a survey suggests.

Earnings rose at an annualised rate of just 0.5% in the three months to February, according to the Vocalink FTSE 350 index.

The rate is well below consumer prices index (CPI) inflation, which is currently running at 4%.

Manufacturing employees were hardest hit, seeing a sudden 0.6% shrinkage in pay packets during the period.

http://www.bbc.co.uk/news/business-12696710

abaxas

Housing market recovery LOCKED IN *



* providing we print another £200 billion.

quantic

Not sure about anyone else, but I am pretty sure my employer is taking full advantage of using the recession as an excuse for absolutely no pay increases in the last 3 years, even though we had our best year in the companies history last year. Also makes redundancies easier too...

abaxas

quantic wrote: »

Not sure about anyone else, but I am pretty sure my employer is taking full advantage of using the recession as an excuse for absolutely no pay increases in the last 3 years, even though we had our best year in the companies history last year. Also makes redundancies easier too...

Of course they do.

It's the same as when you ask for a pay rise or better conditions.

The employer and the employee are the same, they are looking after number one first.

HAMISH_MCTAVISH

Thrugelmir wrote: »

Squeeze is on standard of living for non bankers.

I'm not a banker and my standard of living isn't being squeezed.

Loughton_Monkey

In today's climate, many people are asking themselves what would I prefer (a) pay freeze, or (b) lose my job?

We can look forward to a lot of painful 'entertainment' as some of the public sector lobby take to the streets.

kabayiri

I'm pretty sure this squeeze is not just incidental.

I reckon the politicians would be quite happy for the labour cost of the UK workforce to come down over the coming decade. They would see it as making the UK a more competitive place to do business.

Thrugelmir

kabayiri wrote: »

I'm pretty sure this squeeze is not just incidental.

Global market place. Increasing number of people want a western standard of living.

kabayiri

Thrugelmir wrote: »

Global market place. Increasing number of people want a western standard of living.

Anyone can understand this aspiration.

I wonder if it is becoming a reality for many though?

Take the FoxConn workers in China. Many of them work 14 hour shifts for 6 days a week, and live in dorms. They are encouraged to save half of their income which the Chinese government invests.

Have they achieved their Western living goal? Arguably not. Perhaps they are hoping for delayed rewards.

What is undeniable is the growth in the number of billionaires, both in the East and the West. I suspect it is they who are the real winners out of all of this.