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UK workers see record pay rises, but inflation eats them up (www.reuters.com)

submitted 1 year ago by throws_lemy@lemmy.nz to c/news@beehaw.org

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[–] autotldr@lemmings.world 2 points 1 year ago

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LONDON, Nov 1 (Reuters) - British workers have had their biggest rise in weekly pay in at least a quarter of a century with the pace of earnings growth for women outstripping that of men, according to a comprehensive labour market survey published on Wednesday.

Weekly earnings for full-time employees rose by 6.2% in the 12 months to April - the period covered by the latest Annual Survey for Hours and Earnings (ASHE) which is produced by Britain's official statistics agency.

The Office for National Statistics said the biggest increases in pay by sector were recorded in lower-paying professions with earnings in caring, leisure and other service occupations up 9.4%.

Median gross annual earnings for all full-time employees rose 5.8% to 34,963 pounds ($42,452), a slightly smaller increase than 5.9% in the 12 months to April 2022.

The Bank of England is worried that the face pace of pay growth in Britain could create a wage-price spiral.

Britain's monthly official jobs and pay figures have been beset by problems recently due to low response rates from individuals to its surveys.

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