Workers’ living standards hit


The median percentage increase for settlements from LRD’s Payline database of collective agreements was 2.4% in the three months to August. The median rise has been 2.4% for four out of the last five months, with a slight dip to 2.3% in June.


However, in that time, retail price inflation has risen in four out of the five months from 3.5% to the August rate of 3.9%, apart from a slight dip in June. Workers’ living standards, therefore, continue to be hit.


Headline growth rates for average weekly earnings in July were also well below inflation, with the public sector posting a rise of just 1.6%.

www.lrd.org.uk/index.php?pagid=18

https://www.ons.gov.uk/economy/inflationandpriceindices

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours