Never had a pay rise in my entire life that could have competed with inflation so no surprise.
“The unemployment rate remains at a historic low”
“That’s good!”
“But inflation is at a 40 year high”.
“That’s bad”.
“But wages are rising at their fastest rate in more than 20 years”.
“That’s good!.”
“But when adjusted for rising prices, wages are down by 2.7%”
“….”
“…. That’s bad”.
“Can I have my GE now?”
Mine was just 2%, so I’m not contributing to those record breaking numbers. I can thank Rishi for that, he was chancellor when the civil service pay settlement was decided. I’ve just joined the union as I’ve had enough of this.
So average wages across the economy have fallen by 4% compared with CPI and by over 6% compared with RPI (which is probably closer to most people’s experience of inflation in their real lives).
Coming at a time when we’ve learnt that [we’re the only country in the G7 whose economy hasn’t recovered to the size it was in 2019](https://ichef.bbci.co.uk/news/976/cpsprodpb/CF8A/production/_127603135_g7new.png.webp), it’s starting to become obvious that these massive pay cuts are the price of Brexit and the price of Tory mismanagement.
Raises have not been equal across all sectors and across all bands. Those at the top will be the ones seeing the real record rises,those at the bottom will be seeing their pay go up but their spending power shrink. Inflation is much higher than 10% for food, fuel and rent; when essentials have gone up so much, even record wage rises mean little.
“Record wage rise”? Sorry where? I must have been looking away at the wrong moment.
Since I returned to the UK from abroad in 2019 I’ve increased my wage by about 50% through focused effort and lucky breaks, but I feel my disposable income has hardly changed at all. According to the Bank of England inflation between 2019-2022 totalled 14.8%. It feels like more than that in reality.
I’d be interested to see wage rises by sector. 5.7% is quite high but I suspect there are certain sectors really pulling the average up.
I know the majority of the big names in the financial industry have matched inflation or beaten it by 2% or so.
Someone at the BBC been paid to write this have they? Record pay rises lol I’m not getting any of these that’s for damn sure.
This is good news right? if they were rising at the same (or higher) then that would contribute to more inflation
So I got a record wage increase of £300 a month for example but I’m paying £100 extra for diesel, £50 extra for food, £200 extra for energy and £100 extra in rent. That’s great we are all doing great!
Don’t piss on my back and tell me it’s raining.
What record wage rises?
Us hospitality and retail workers are all pretty much on national minimum wage still and have been for a long time.
Who’s wages have risen? Mine haven’t, no one i work with has, no one I work around has, obviously someone’s has, but is this one of those averagely from highest to lowest earners, cause it would seem to me only the top earner seem to be getting pay rises.
This is what an economist would call a real wage decrease. That is a “decrease”, not a “record increase”
“It cannot get any worse”.
That must be right up there with the most stupid statements in human history.
My last payrise was last April I think and it went up 1.5% meaning I got about 30£ more a month minuss taxes
Who would have thought that with limited supply of real goods that prices would go up by printing more money and giving it to more people. I for one am shocked and surprised. I’m still flumoxed to why people hold soft money.
Corporate greed drove up inflation and they’ll be the first ones to fight rising wages.
We’ve been offered 2.5 and a one off payment with no increment. Miles from Inflation costs
Why do they make these headlines almost cryptic to understand at first glance.?
Why don’t they simplify them?
Private sector worker here and no pay rise in sight….
22 comments
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Never had a pay rise in my entire life that could have competed with inflation so no surprise.
“The unemployment rate remains at a historic low”
“That’s good!”
“But inflation is at a 40 year high”.
“That’s bad”.
“But wages are rising at their fastest rate in more than 20 years”.
“That’s good!.”
“But when adjusted for rising prices, wages are down by 2.7%”
“….”
“…. That’s bad”.
“Can I have my GE now?”
Mine was just 2%, so I’m not contributing to those record breaking numbers. I can thank Rishi for that, he was chancellor when the civil service pay settlement was decided. I’ve just joined the union as I’ve had enough of this.
So average wages across the economy have fallen by 4% compared with CPI and by over 6% compared with RPI (which is probably closer to most people’s experience of inflation in their real lives).
Coming at a time when we’ve learnt that [we’re the only country in the G7 whose economy hasn’t recovered to the size it was in 2019](https://ichef.bbci.co.uk/news/976/cpsprodpb/CF8A/production/_127603135_g7new.png.webp), it’s starting to become obvious that these massive pay cuts are the price of Brexit and the price of Tory mismanagement.
Raises have not been equal across all sectors and across all bands. Those at the top will be the ones seeing the real record rises,those at the bottom will be seeing their pay go up but their spending power shrink. Inflation is much higher than 10% for food, fuel and rent; when essentials have gone up so much, even record wage rises mean little.
“Record wage rise”? Sorry where? I must have been looking away at the wrong moment.
Since I returned to the UK from abroad in 2019 I’ve increased my wage by about 50% through focused effort and lucky breaks, but I feel my disposable income has hardly changed at all. According to the Bank of England inflation between 2019-2022 totalled 14.8%. It feels like more than that in reality.
I’d be interested to see wage rises by sector. 5.7% is quite high but I suspect there are certain sectors really pulling the average up.
I know the majority of the big names in the financial industry have matched inflation or beaten it by 2% or so.
Someone at the BBC been paid to write this have they? Record pay rises lol I’m not getting any of these that’s for damn sure.
This is good news right? if they were rising at the same (or higher) then that would contribute to more inflation
So I got a record wage increase of £300 a month for example but I’m paying £100 extra for diesel, £50 extra for food, £200 extra for energy and £100 extra in rent. That’s great we are all doing great!
Don’t piss on my back and tell me it’s raining.
What record wage rises?
Us hospitality and retail workers are all pretty much on national minimum wage still and have been for a long time.
Who’s wages have risen? Mine haven’t, no one i work with has, no one I work around has, obviously someone’s has, but is this one of those averagely from highest to lowest earners, cause it would seem to me only the top earner seem to be getting pay rises.
This is what an economist would call a real wage decrease. That is a “decrease”, not a “record increase”
“It cannot get any worse”.
That must be right up there with the most stupid statements in human history.
My last payrise was last April I think and it went up 1.5% meaning I got about 30£ more a month minuss taxes
Who would have thought that with limited supply of real goods that prices would go up by printing more money and giving it to more people. I for one am shocked and surprised. I’m still flumoxed to why people hold soft money.
Corporate greed drove up inflation and they’ll be the first ones to fight rising wages.
We’ve been offered 2.5 and a one off payment with no increment. Miles from Inflation costs
Why do they make these headlines almost cryptic to understand at first glance.?
Why don’t they simplify them?
Private sector worker here and no pay rise in sight….