These figures are pretty shocking. It’s even worse than the “4% slump” that Sky are talking about in this article.
Wages have risen by an average of 5.1% in nominal terms. The bank of England are projecting that CPI figures will hit 13% in the next few months and the RPI figure (what we used to call “the cost of living” in the old high inflation days) is already at 12%.
This is going to make a lot of people’s lives noticeably worse.
In case you don’t read beyond the headlines, this is a 3% fall in real terms and
>the ninth consecutive month-on-month drop in real-term pay, the figures show.
And this is before energy costs are due to more than double over winter.
Remember when brexiteers were cheering over lorry driver wages going up and how we’d all be paid more? Well that aged like milk, not least because we’ve had the worst post-COVID export recovery of major economies, due to brexit.
Remember when everyone at the top was shouting from the rooftops that high wages would cause inflation?
It’s been about wage suppression all along.
Tell us something we don’t know. Meanwhile Boris is on his second holiday this month whilst still being paid a six figure salary in a zombie government.
If this was a Latin American country or somewhere like Africa there would probably be some sort of action by the people by now. Why hasn’t the queen got the guts to actually get off the fence for once and tell parliament they’re crap.
Is this really breaking news
Why would the 2009 Labour government do this? /s
Not even to mention what people who have no choice but to rely on things like disability benefits are getting in terms of pay rise…precisely fuck all, as usual
Don’t worry, it’s all good. Pensioners all got their triple lock pension increase. That’s all that matters
BuT rAiSiNg WaGeS wIlL mAkE iNfLaTiOn WoRsE!!!1!!
It’s getting to the time where we need to start knocking on number 10 in numbers.
Wondering how this is the fault of the EU / Remain Voters / Immigrants / The Left / Labour
Let me guess, profits will be up tho
And ontop of all this, many work places are expecting more from their workers, reducing benefits, changing contracts etc.
Never before have I felt so squeezed in my job as I have now.
I often look up job ads and today I thought I saw one that I fit the bill for… But it’s paying less than my current one.
Upvote this comment for a general strike.
Why do we bear the costs for the mistakes of the rich and powerful?
Times are tough, so wages for the majority of people are suppressed to maintain wages, bonuses and profits for the privileged few.
If people think this is somehow going to magically get fixed quickly once the worldwide pressures recede, I’ve got some news for you, this is now baked in to our system.
Big Bosses: “Right, we’ve given them all a pay cut, now lets award ourselves a 30% bonus as a reward”
All these figures and graphs are very interesting but interesting does not help to change things for the better.
The rich get richer and inflation goes up and up wages are stagnant there is no water bonuses go on and on but not one single MP or Government Minister care a jot.
It’s stuff like this that’s driving the government to ban peaceful protest.
The social contract doesn’t survive stuff like this, and I have a feeling we’re racing towards “interesting times”.
Yet the local news in West Devon chose to frame is as ‘JUST 1 EVICTION IN THE PAST MONTH IN WEST DEVON YAY’
But don’t worry. Instead of just setting an actual reasonable cap on energy pricing they’ll let them run rampant profits and give you a small loan that’s paid by your taxes that you’ll have to pay back anyway.
Just after companies post record profits.
Gotta love the UK
When the public sector strikes hit, this outrage will disappear.
Teachers last had a pay rise that met inflation two decades ago. Since then its been steady erosion. New teachers have often quit early in their career. we’re seeing experienced teachers quitting now.
It’s almost as if it’s not wages increases that cause inflation 😮
Don’t worry guys. There may be a potential recession, and we’re in an unprecedented pay slump, with stagnant wages versus rising costs but look at the great and totally unrelated note; many companies such as gas and electric companies are seeing record profits of up to 400%! Totally… un…related….
Isn’t the Tory UK wonderful? Seems the Tories want hypothermia to take over where Covid19 left off!
You just took a near 8% pay cut. You’re very welcome.
“pay slump” implies that people aren’t getting raises, but staying the same.
We aren’t staying the same, our salaries are not changing against inflation so we are getting worse, not slumping.
i’m a bit thick and have a shallow understanding of economics, so i hope someone with a bit more knowledge could help me understand something.
economists keep talking about how a wage rise would cause inflation to get even worse, but how is it that the top earners are receiving gigantic pay increases, why isn’t that causing an inflation spiral?? surely the money can just be redistributed more evenly downwards instead of floating to the top??
It’s not inflation. We’re being robbed.
Literally just managed to finally get a half respectable wage after working my ass off for 6 years and because of this its not a respectable wage 🤣 demand more from your employer
Just wait until people really start to protest this ( if the British ever do ) and then see the reaction from the government and police.
tory britain. highest profits for business. lower pay for the plebs. . and the english will still vote tory at the next election because labour bad, corbyn, etc etc. wait until the tories sign a trade deal with india. millions of indians to work for 50p an hour!!!. suck it up tory voting plebs enjoy your brexit wins….
We need a general strike.
Just as intended by the tories
Enough is enough, il probably get downvoted to oblivion but fuck the tories!
I wish there was a switch just to immediately organise everyone in the country. A huge mass strike..every person in every job. Just stop. No demonstrations needed, just stay home.
Smarter, more organised people than me have tried. I wouldn’t even know where to begin. But it’s the same old adage that that power is with the people. If everyone simply just stopped..didn’t go to work. Stopped their energy bill direct debits etc. Change would happen in a few days. Everyone knows this of course. It’s just near impossible to organise on that level, despite the unprecedented change it would bring.
If only someone had told us that the tories are greedy lying cunts.
Just how many “once in a lifetime” financial crises can one generation face? I can’t remember a time in my adult life (I’m a millenial in my early thirties) where we’ve not been suffering from some financial crisis to the next…
My employer gave some people a £200 per year pay rise which equates to about £16 pre tax per month.
With absolutely no sense of irony or sarcasm said to people “I hope you’re pleased with that?”
It’s like they have no idea…..how can they think that’s good?
Me on the other hand, haven’t had a penny raise in 4 years, not eligible for a bonus etc, had my manager who does receives a yearly bonus, say to me that I don’t get a rise because I earn too much in comparison with my peers.
I struggle to afford food around the middle of the month, and she says I earn too much.
Just to point out I work for a US based company (I’m in the Uk) that has a $5bn dollar turnover and yet they can’t give their staff decent money.
Retailers are allowed to bump up prices which is obviously fueling inflation but there is no demonising of them.
The working people always get beat down, it’s us who has to have the paycut and take the hit.
The economy has only shrunk by 0.1%, so the total amount of value being produced in the economy is basically unchanged. It’s just that workers share of it has shrunk. Where has the difference gone? The answer is the people whose income comes from owning capital rather than performing labour.
43 comments
These figures are pretty shocking. It’s even worse than the “4% slump” that Sky are talking about in this article.
Wages have risen by an average of 5.1% in nominal terms. The bank of England are projecting that CPI figures will hit 13% in the next few months and the RPI figure (what we used to call “the cost of living” in the old high inflation days) is already at 12%.
This is going to make a lot of people’s lives noticeably worse.
In case you don’t read beyond the headlines, this is a 3% fall in real terms and
>the ninth consecutive month-on-month drop in real-term pay, the figures show.
And this is before energy costs are due to more than double over winter.
Remember when brexiteers were cheering over lorry driver wages going up and how we’d all be paid more? Well that aged like milk, not least because we’ve had the worst post-COVID export recovery of major economies, due to brexit.
https://www.theneweuropean.co.uk/trade-figures-for-brexit-and-britain-disaster/
[removed]
Remember when everyone at the top was shouting from the rooftops that high wages would cause inflation?
It’s been about wage suppression all along.
Tell us something we don’t know. Meanwhile Boris is on his second holiday this month whilst still being paid a six figure salary in a zombie government.
If this was a Latin American country or somewhere like Africa there would probably be some sort of action by the people by now. Why hasn’t the queen got the guts to actually get off the fence for once and tell parliament they’re crap.
Is this really breaking news
Why would the 2009 Labour government do this? /s
Not even to mention what people who have no choice but to rely on things like disability benefits are getting in terms of pay rise…precisely fuck all, as usual
Don’t worry, it’s all good. Pensioners all got their triple lock pension increase. That’s all that matters
BuT rAiSiNg WaGeS wIlL mAkE iNfLaTiOn WoRsE!!!1!!
It’s getting to the time where we need to start knocking on number 10 in numbers.
Wondering how this is the fault of the EU / Remain Voters / Immigrants / The Left / Labour
Let me guess, profits will be up tho
And ontop of all this, many work places are expecting more from their workers, reducing benefits, changing contracts etc.
Never before have I felt so squeezed in my job as I have now.
I often look up job ads and today I thought I saw one that I fit the bill for… But it’s paying less than my current one.
Upvote this comment for a general strike.
Why do we bear the costs for the mistakes of the rich and powerful?
Times are tough, so wages for the majority of people are suppressed to maintain wages, bonuses and profits for the privileged few.
If people think this is somehow going to magically get fixed quickly once the worldwide pressures recede, I’ve got some news for you, this is now baked in to our system.
Big Bosses: “Right, we’ve given them all a pay cut, now lets award ourselves a 30% bonus as a reward”
All these figures and graphs are very interesting but interesting does not help to change things for the better.
The rich get richer and inflation goes up and up wages are stagnant there is no water bonuses go on and on but not one single MP or Government Minister care a jot.
It’s stuff like this that’s driving the government to ban peaceful protest.
The social contract doesn’t survive stuff like this, and I have a feeling we’re racing towards “interesting times”.
Yet the local news in West Devon chose to frame is as ‘JUST 1 EVICTION IN THE PAST MONTH IN WEST DEVON YAY’
But don’t worry. Instead of just setting an actual reasonable cap on energy pricing they’ll let them run rampant profits and give you a small loan that’s paid by your taxes that you’ll have to pay back anyway.
Just after companies post record profits.
Gotta love the UK
When the public sector strikes hit, this outrage will disappear.
Teachers last had a pay rise that met inflation two decades ago. Since then its been steady erosion. New teachers have often quit early in their career. we’re seeing experienced teachers quitting now.
It’s almost as if it’s not wages increases that cause inflation 😮
Don’t worry guys. There may be a potential recession, and we’re in an unprecedented pay slump, with stagnant wages versus rising costs but look at the great and totally unrelated note; many companies such as gas and electric companies are seeing record profits of up to 400%! Totally… un…related….
Isn’t the Tory UK wonderful? Seems the Tories want hypothermia to take over where Covid19 left off!
You just took a near 8% pay cut. You’re very welcome.
“pay slump” implies that people aren’t getting raises, but staying the same.
We aren’t staying the same, our salaries are not changing against inflation so we are getting worse, not slumping.
i’m a bit thick and have a shallow understanding of economics, so i hope someone with a bit more knowledge could help me understand something.
economists keep talking about how a wage rise would cause inflation to get even worse, but how is it that the top earners are receiving gigantic pay increases, why isn’t that causing an inflation spiral?? surely the money can just be redistributed more evenly downwards instead of floating to the top??
It’s not inflation. We’re being robbed.
Literally just managed to finally get a half respectable wage after working my ass off for 6 years and because of this its not a respectable wage 🤣 demand more from your employer
Just wait until people really start to protest this ( if the British ever do ) and then see the reaction from the government and police.
tory britain. highest profits for business. lower pay for the plebs. . and the english will still vote tory at the next election because labour bad, corbyn, etc etc. wait until the tories sign a trade deal with india. millions of indians to work for 50p an hour!!!. suck it up tory voting plebs enjoy your brexit wins….
We need a general strike.
Just as intended by the tories
Enough is enough, il probably get downvoted to oblivion but fuck the tories!
I wish there was a switch just to immediately organise everyone in the country. A huge mass strike..every person in every job. Just stop. No demonstrations needed, just stay home.
Smarter, more organised people than me have tried. I wouldn’t even know where to begin. But it’s the same old adage that that power is with the people. If everyone simply just stopped..didn’t go to work. Stopped their energy bill direct debits etc. Change would happen in a few days. Everyone knows this of course. It’s just near impossible to organise on that level, despite the unprecedented change it would bring.
If only someone had told us that the tories are greedy lying cunts.
Just how many “once in a lifetime” financial crises can one generation face? I can’t remember a time in my adult life (I’m a millenial in my early thirties) where we’ve not been suffering from some financial crisis to the next…
My employer gave some people a £200 per year pay rise which equates to about £16 pre tax per month.
With absolutely no sense of irony or sarcasm said to people “I hope you’re pleased with that?”
It’s like they have no idea…..how can they think that’s good?
Me on the other hand, haven’t had a penny raise in 4 years, not eligible for a bonus etc, had my manager who does receives a yearly bonus, say to me that I don’t get a rise because I earn too much in comparison with my peers.
I struggle to afford food around the middle of the month, and she says I earn too much.
Just to point out I work for a US based company (I’m in the Uk) that has a $5bn dollar turnover and yet they can’t give their staff decent money.
Retailers are allowed to bump up prices which is obviously fueling inflation but there is no demonising of them.
The working people always get beat down, it’s us who has to have the paycut and take the hit.
The economy has only shrunk by 0.1%, so the total amount of value being produced in the economy is basically unchanged. It’s just that workers share of it has shrunk. Where has the difference gone? The answer is the people whose income comes from owning capital rather than performing labour.