Or maybe worker are sick and tired of being treated like slaves with very low wages
I’m 50 soon, if I could retire, I’d do so in a heartbeat.
Liz truss to the rescue “I’ll keep inflation down by banning retirement under the age of 85”
>”Regardless of what has happened coming out of Covid, if the labour market is that tight, if we continue to have far fewer people in work [or] looking for work – you’ve inevitably got more inflation and more wage inflation,” she said.
She only cares about wage inflation, not price inflation. She wants more people “looking for work” – as always these people want to throw us under the bus in favour of their own selfish interests.
There’s a class of people in the country who seem to think that we exist for the good of the economy rather than the economy existing to make our lives better.
People leaving the workforce because they have enough money is a good thing. People who remain in the workforce being able to get a bit more money to do their jobs is a good thing.
The fact that the bosses think that we’re better off if wages *don’t* rise as quickly as prices shows how fucked up their view of the economy is!
And i can guarantee she will take early retirement with a nice fat golden goodbye when she reaches her 50s.
Surprise surprise we’d all love to do this. <facepalm>
I’m still retiring in 4 years, 4 months and 25 days when I am 55, so swivel.
>The UK has seen one million people, mostly in their 50s, leave work since the start of the Covid-19 outbreak. That “inevitably” causes wage inflation, said Dame Sharon.
So the amount of labour available in the job market *does* have an affect on wages? Funny, I was told it was a fallacy!
I suppose at least it makes a change from the millennials being blamed for everything.
Meanwhile, university graduates and younger workers struggle to get their first jobs or make significant career progression even though they’re qualified to work in their chosen environment? We have a shortage in certain industries as well, and yet it seems like the hiring process these days goes through the most ridiculous set of red tape ever invented… Every employee wants an Einstein and yet wants them to start on, and remain on the lowest possible salary.
Population numbers are decreasing because the younger generation can’t afford to buy homes or have children, or they don’t want to bring a child up with a looming existential threat (climate change, but other crises are also available).
Why is this government soooooooooooooo detached from reality!?
I heard if you take a breath in, and then after you take a breath out – this can be inflationary.
If everyone could please stop thx
Retail worker of 20 years. No way am I going to make it to pension and retirement. Retail work is hard on the body. Being on your feet all day lugging around stock takes a toll on the body that you just can’t appreciate unless you do it long term.
I’ll be 40 next year and am relatively fit and healthy. If I manage another 10 years I’ll be amazed.
I retired last year at 60 – because I could. Why keep working when I can afford not to? And why block a position that a younger person might really need?
(Also, not that I care, but the term ‘economically inactive’ is misleading – I’m still spending money much as I did when I was employed).
Yeah. you heard Sharon, British public. Stop fucking complaining about shit wages and get used to working weekends. evenings. All the way to the grave!
Overtime is painful on £9.50 minimum wage. Let’s say you work full time already, any additional hours will basically be taxed/NI 30% off = £6.65 per hour net.
The demographics shift (the last of the baby boom generation retiring) in the coming years will exacerbate salary/wage inflation. Companies chasing fewer and fewer working age people to fill roles. There’s also going to be significant pressure on productivity and economic growth. How can you consistently get more output with fewer people?
Automation and/or immigration might help but there will still be a down trend in growth and uptrend in remuneration.
Me: rich, greedy and corrupt cunts with no thought whatsoever about everyone else fuels inflation. And then blames anyone or anything other than their own greed.
Amazed how they keep trying to blame this solely on workers. Corporations making record profits, money being ripped out of circulation at record rates by the ultra wealthy, but the issue is always because Doris retired early or bill wants a pay rise.
They’re taking us for mugs
Basically over 50s were the only ones who could afford the shit John Lewis wage because they had access to cheap housing at an early age. Now people want more to work for John Lewis or other similar jobs. This woman is paid a million quid a year and wants people to come out of retirement so that they don’t have to up wages by a few quid an hour. What a disgusting human being.
They keep forgetting that we make the economy go around…
I’ll be amazed if I make it to retirement age in any fit state to keep working. If the ballast dosent fuck my knees and back it will be the lifting and shifting.
But hey ho might be getting paid off in a few months so I might not have to worry all that much.
The mili second I can afford to retire comfortably I am gonna do it. I am saving every penny and taking every investment possible to make this happen as soon as possible.
Also I thought we needed the older people to retire so we could promote the youth or was that a lie as well ?
Even if it’s causing inflation they are hardly gonna come running back are they
“Everything causes inflation. Except Government policy and Corporate greed. Neither of those cause inflation.” My new article for the Times.
I bet her wage alone could pay the wage of at least 30 people a year, so I’m shore she and a handful of executives could quite easily afford a 10% wage reduction, which would also help with inflation, all these rich are blaming the workers for wanting a fair days pay with some disposable income. Inflation is all down to the greedy rich, moving there money out of the country so to avoid taxes.
At this point I think if I read any more right wing propaganda BS in the news my already boiled piss will become a superheated plasma.
WAGE RISES DO NOT FUEL INFLATION. THEY ABSOLUTELY DO NOT. No ones had a real wage rise in a decade and fuck me is inflation 10%, yes it fucking is. I’m glad I don’t pay my licence fee for this right wing propaganda.
They’ve totally ignored ageism, which has never been more rampant than it is today. Getting a new job under 50 is child’s play compared to getting one after 50 if you lost your job.
The BOE went into detail about this in their most recent monetary report.
They say the labour shortage is driven most of all by long covid, which is disturbing…
>It is likely that Covid and associated **delays in treatment for other conditions** have played a significant role in the increase in inactivity due to long-term sickness. Just under **two million people** reported to the ONS that they have long Covid as of 4 June. Around 20% of those people report that this reduces their ability to undertake day-to-day activities a lot.
There’s a phrase in the middle of this piece that I’d like you to focus on.
>Job vacancies are at a record high and employers who want to attract and retain staff are under pressure to lift wages, which in turn fuels inflation.
That last bit isn’t true. If there is genuine competitive pressure on firms and they are fighting for business, then those that raise prices lose out to those that become more efficient and generate more volume at the current price.
It’s the latter firms we want to survive and the former need to go bust.
A quantity expanding firm will always outcompete a price expanding firm. If you go to the barbers and there is a queue a good barber will work harder and longer to get the queue to go down. They won’t put the prices up until people leave because they can’t afford it.
Genuine competition for business is what keeps prices down. We don’t have that at present.
Inflation is always, everywhere, a big red flag that there is an oligopoly that needs taking apart.
The price of labour should always be reassuringly expensive and capital very cheap. That way firms are encouraged to automate and invest capital to improve productivity, which is the main way our standard of living improves in a mixed economy.
This is the same woman who said young workers have literacy and numeracy skills of a ten year old. She’s the whole damn circus.
30 comments
Or maybe worker are sick and tired of being treated like slaves with very low wages
I’m 50 soon, if I could retire, I’d do so in a heartbeat.
Liz truss to the rescue “I’ll keep inflation down by banning retirement under the age of 85”
>”Regardless of what has happened coming out of Covid, if the labour market is that tight, if we continue to have far fewer people in work [or] looking for work – you’ve inevitably got more inflation and more wage inflation,” she said.
She only cares about wage inflation, not price inflation. She wants more people “looking for work” – as always these people want to throw us under the bus in favour of their own selfish interests.
There’s a class of people in the country who seem to think that we exist for the good of the economy rather than the economy existing to make our lives better.
People leaving the workforce because they have enough money is a good thing. People who remain in the workforce being able to get a bit more money to do their jobs is a good thing.
The fact that the bosses think that we’re better off if wages *don’t* rise as quickly as prices shows how fucked up their view of the economy is!
And i can guarantee she will take early retirement with a nice fat golden goodbye when she reaches her 50s.
Surprise surprise we’d all love to do this. <facepalm>
I’m still retiring in 4 years, 4 months and 25 days when I am 55, so swivel.
>The UK has seen one million people, mostly in their 50s, leave work since the start of the Covid-19 outbreak. That “inevitably” causes wage inflation, said Dame Sharon.
So the amount of labour available in the job market *does* have an affect on wages? Funny, I was told it was a fallacy!
I suppose at least it makes a change from the millennials being blamed for everything.
Meanwhile, university graduates and younger workers struggle to get their first jobs or make significant career progression even though they’re qualified to work in their chosen environment? We have a shortage in certain industries as well, and yet it seems like the hiring process these days goes through the most ridiculous set of red tape ever invented… Every employee wants an Einstein and yet wants them to start on, and remain on the lowest possible salary.
Population numbers are decreasing because the younger generation can’t afford to buy homes or have children, or they don’t want to bring a child up with a looming existential threat (climate change, but other crises are also available).
Why is this government soooooooooooooo detached from reality!?
I heard if you take a breath in, and then after you take a breath out – this can be inflationary.
If everyone could please stop thx
Retail worker of 20 years. No way am I going to make it to pension and retirement. Retail work is hard on the body. Being on your feet all day lugging around stock takes a toll on the body that you just can’t appreciate unless you do it long term.
I’ll be 40 next year and am relatively fit and healthy. If I manage another 10 years I’ll be amazed.
I retired last year at 60 – because I could. Why keep working when I can afford not to? And why block a position that a younger person might really need?
(Also, not that I care, but the term ‘economically inactive’ is misleading – I’m still spending money much as I did when I was employed).
Yeah. you heard Sharon, British public. Stop fucking complaining about shit wages and get used to working weekends. evenings. All the way to the grave!
Overtime is painful on £9.50 minimum wage. Let’s say you work full time already, any additional hours will basically be taxed/NI 30% off = £6.65 per hour net.
The demographics shift (the last of the baby boom generation retiring) in the coming years will exacerbate salary/wage inflation. Companies chasing fewer and fewer working age people to fill roles. There’s also going to be significant pressure on productivity and economic growth. How can you consistently get more output with fewer people?
Automation and/or immigration might help but there will still be a down trend in growth and uptrend in remuneration.
Me: rich, greedy and corrupt cunts with no thought whatsoever about everyone else fuels inflation. And then blames anyone or anything other than their own greed.
Amazed how they keep trying to blame this solely on workers. Corporations making record profits, money being ripped out of circulation at record rates by the ultra wealthy, but the issue is always because Doris retired early or bill wants a pay rise.
They’re taking us for mugs
Basically over 50s were the only ones who could afford the shit John Lewis wage because they had access to cheap housing at an early age. Now people want more to work for John Lewis or other similar jobs. This woman is paid a million quid a year and wants people to come out of retirement so that they don’t have to up wages by a few quid an hour. What a disgusting human being.
They keep forgetting that we make the economy go around…
I’ll be amazed if I make it to retirement age in any fit state to keep working. If the ballast dosent fuck my knees and back it will be the lifting and shifting.
But hey ho might be getting paid off in a few months so I might not have to worry all that much.
The mili second I can afford to retire comfortably I am gonna do it. I am saving every penny and taking every investment possible to make this happen as soon as possible.
Also I thought we needed the older people to retire so we could promote the youth or was that a lie as well ?
Even if it’s causing inflation they are hardly gonna come running back are they
“Everything causes inflation. Except Government policy and Corporate greed. Neither of those cause inflation.” My new article for the Times.
I bet her wage alone could pay the wage of at least 30 people a year, so I’m shore she and a handful of executives could quite easily afford a 10% wage reduction, which would also help with inflation, all these rich are blaming the workers for wanting a fair days pay with some disposable income. Inflation is all down to the greedy rich, moving there money out of the country so to avoid taxes.
At this point I think if I read any more right wing propaganda BS in the news my already boiled piss will become a superheated plasma.
WAGE RISES DO NOT FUEL INFLATION. THEY ABSOLUTELY DO NOT. No ones had a real wage rise in a decade and fuck me is inflation 10%, yes it fucking is. I’m glad I don’t pay my licence fee for this right wing propaganda.
They’ve totally ignored ageism, which has never been more rampant than it is today. Getting a new job under 50 is child’s play compared to getting one after 50 if you lost your job.
The BOE went into detail about this in their most recent monetary report.
They say the labour shortage is driven most of all by long covid, which is disturbing…
Haven’t seen much about that in the press though…
[https://www.bankofengland.co.uk/monetary-policy-report/2022/august-2022#chapter-8](https://www.bankofengland.co.uk/monetary-policy-report/2022/august-2022#chapter-8)
>It is likely that Covid and associated **delays in treatment for other conditions** have played a significant role in the increase in inactivity due to long-term sickness. Just under **two million people** reported to the ONS that they have long Covid as of 4 June. Around 20% of those people report that this reduces their ability to undertake day-to-day activities a lot.
There’s a phrase in the middle of this piece that I’d like you to focus on.
>Job vacancies are at a record high and employers who want to attract and retain staff are under pressure to lift wages, which in turn fuels inflation.
That last bit isn’t true. If there is genuine competitive pressure on firms and they are fighting for business, then those that raise prices lose out to those that become more efficient and generate more volume at the current price.
It’s the latter firms we want to survive and the former need to go bust.
A quantity expanding firm will always outcompete a price expanding firm. If you go to the barbers and there is a queue a good barber will work harder and longer to get the queue to go down. They won’t put the prices up until people leave because they can’t afford it.
Genuine competition for business is what keeps prices down. We don’t have that at present.
Inflation is always, everywhere, a big red flag that there is an oligopoly that needs taking apart.
The price of labour should always be reassuringly expensive and capital very cheap. That way firms are encouraged to automate and invest capital to improve productivity, which is the main way our standard of living improves in a mixed economy.
This is the same woman who said young workers have literacy and numeracy skills of a ten year old. She’s the whole damn circus.