The majority of wage inflation is in the bottom and top ends of the market.
Those in the middle (40-80k) have barely seen an increase for years and, especially for those at the bottom end of they range are seeing wage compression in action where they may be better off taking a minimum wage job.
If Labour really cared about workers, they would make the minimum wage increase a ‘wage increase’ that is a percentage applied nationally to everyone, across the board.
AlpsSad1364 on
My totally out there prediction: house prices and rents will continue to rise whilst average real wages are rising.
Immediate-Network-93 on
Are these real income gains in the room with us right now?
Own_Wolverine4773 on
Not sure you guys, but I don’t see a compound increase on salary of 4pct a week.
EmmForce1 on
It really depends on what they mean by inflation. I can’t think of any price rise below 5% this year, outside of individual food items (our weekly food shop is tracking at about 7-9% above last year).
‘True’ inflation still feels much higher than the official figure.
PartyFriend on
Uh I hate to be the bearer of bad news but this article is two months old and inflation has been going up for the past two months in the UK and it’s uncertain whether we’ve truly overcome at this point. To be fair, it’s rising globally at the moment but there’s not really much we can do about that at this point IMO.
6 Comments
The majority of wage inflation is in the bottom and top ends of the market.
Those in the middle (40-80k) have barely seen an increase for years and, especially for those at the bottom end of they range are seeing wage compression in action where they may be better off taking a minimum wage job.
If Labour really cared about workers, they would make the minimum wage increase a ‘wage increase’ that is a percentage applied nationally to everyone, across the board.
My totally out there prediction: house prices and rents will continue to rise whilst average real wages are rising.
Are these real income gains in the room with us right now?
Not sure you guys, but I don’t see a compound increase on salary of 4pct a week.
It really depends on what they mean by inflation. I can’t think of any price rise below 5% this year, outside of individual food items (our weekly food shop is tracking at about 7-9% above last year).
‘True’ inflation still feels much higher than the official figure.
Uh I hate to be the bearer of bad news but this article is two months old and inflation has been going up for the past two months in the UK and it’s uncertain whether we’ve truly overcome at this point. To be fair, it’s rising globally at the moment but there’s not really much we can do about that at this point IMO.