Wage growth

[DimPrawn]

What is interesting, is that employment in the UK is at an all time record, unemployment is at an 11 year low at less than 5%, and yet wage growth isn't really going anywhere and hasn't move much for many years.

In a tight labour market you would expect wage pressure. Everyone who wants to work has a job, and so to attract the best workers, wages should be rising fast.

I smell a rat.

[MarillionFan]

What is interesting, is that employment in the UK is at an all time record, unemployment is at an 11 year low at less than 5%, and yet wage growth isn't really going anywhere and hasn't move much for many years.

In a tight labour market you would expect wage pressure. Everyone who wants to work has a job, and so to attract the best workers, wages should be rising fast.

I smell a rat.

EU and cheap labour innit.

[eek]

What is interesting, is that employment in the UK is at an all time record, unemployment is at an 11 year low at less than 5%, and yet wage growth isn't really going anywhere and hasn't move much for many years.

In a tight labour market you would expect wage pressure. Everyone who wants to work has a job, and so to attract the best workers, wages should be rising fast.

I smell a rat.

GDP has increased, GDP per capita hasn't... Many people are on low wages and there is an endless supply of cheap labour from Eastern Europe so there is always someone willing to work and able to fill the job you've just taken...

And still people wonder (Sas / Cretin (by name and by nature)) why Brexit won the election....

[DimPrawn]

So the real test of Brexit success will be:

Wage growth
GDP per capita rising

If we can throw in falling housing costs, in real terms, we will be enjoying a much higher standard of living.

[minestrone]

Wages will rise anyway with the national living wage.

[DimPrawn]

Wages will rise anyway with the national living wage.

I'm on about proper jobs, like MF's job.

Oh hang on.....

[BlasterBates]

But how come Japan has lower average incomes than the UK ?

It has a shortage of workers:

Lack of Workers Hobbles Japan’s Growth - WSJ

And no immigration

Japan's 'no immigration principle' looking as solid as ever | The Japan Times

...and yet lower average incomes than the UK

https://en.wikipedia.org/wiki/List_o...y_average_wage

Note Switzerland is quite high on the list and has greater net immigration than the UK

Puzzling to say the least.

[minestrone]

But how come Japan has lower average incomes than the UK ?

Maybe because it is an economic basket case? Did you think of that?

[LondonManc]

Taking wages on their own is like taking revenue without looking at costs when comparing country to country.

Switzerland has a high cost of living.

[Hobosapien]

It's easy to have more people in employment when they're 'all' on part time work doing 16 hours a week so they can leech all the benefits.

Never mind, that universal tax credit system fiasco will one day kill off tax credits for good and do the job that Osborne chickened out of.