Thursday, November 18, 2021

Inflation and Pay

 Regardless of all the hype that with labour shortages it is a workers market right now, the average pay deal across the UK is worth just 2%, despite a rise in prices that pushed the retail prices index (RPI) – a widely used measure of inflation in pay bargaining – to 6% this month.

Inflation is causing a sharp decline in disposable incomes across much of the workforce, a survey of employers also found they were expecting to increase pay by only 2.5% over the next year.

Average pay deal in Britain worth just 2%, data shows | Business | The Guardian

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