It just shows the real divide there is in Britain at the moment with bosses pay and pensions rising but workers losing money every day.”
Sounds like something from the front page of Socialist Worker - time foe a wee song.
The Working Class can kiss my arese
Ive got a wee con-tract at last
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and therefore, we can reasonably deduce, with many taking much less.Originally posted by AtW View Post
(OK - or a few taking much much less)Leave a comment:
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No AtW comment, entire article presumably quoted, kept the dross and didn't highlight the most salient soundbites. 1/5.Leave a comment:
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Real deflation
Pay rises well below inflation for many, report finds
The study of the salaries of 7.9million workers found that the average person won a boost of less than half the rate of inflation of 5.2%.
One in six workers have had their pay frozen, most of whom were in the public sector, the researchers found.
Over a fifth of employees now have salary increases linked to their performance, which the study concluded often led to a higher wage rise than the individual might have received otherwise.
Experts said that pay rises would be likely to remain low until January at least.
They noted that most employers had not attempted to replace any lost pay increase by offering alternative benefits.
The figure of 5.2% inflation refers to the Retail Price Index measure, which measures the change in the cost of a basket of goods.
Local government workers are currently part-way through a two-year pay freeze, as are many health workers.
Sheila Attwood of XpertHR, a pay research group that conducted the research, said: “The modest growth in wages that we are currently seeing is likely to continue at least until the January wage round begins.
“Pay award levels remain historically low, and well below the rate of inflation. Few employers have made any efforts to mitigate this in other areas of reward as the finances are not available to do so.”
The low levels of pay increases come in the face of record bonuses for some of the bosses of Britain’s biggest companies.
Directors of FTSE 100 companies have been awarded an average pay rise of 4% in 2011, with many taking much more.
Traditionally bonuses have been paid out at between 70% and 80% of the maximum possible amount but this year they increased to as much as 87% for FTSE 100 firms.
A spokeswoman for the union Unison, which represents more than 1.3million workers, said: “It’s not right that pay should be losing pace for so many people when inflation is going up.
“It just shows the real divide there is in Britain at the moment with bosses pay and pensions rising but workers losing money every day.”
Source: Pay rises well below inflation for many, report finds - Telegraph
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