Why we're all getting poorer

Press Association
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Commuter Stock

Pay rises continue to be "subdued", increasing by 2% over the year in the three months to October, a new report has shown.

The median basic pay award showed that pay has been going up below the rate of RPI inflation, said analysts XpertHR.

Employers are not optimistic there will be an upturn in awards over the coming months, said the report.

Pay freezes account for more than one in 10, showing that pay restraint is "far from over", it was found.

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XpertHR pay and benefits editor Sheila Attwood said: "The latest data marks yet another period of low pay awards recorded by XpertHR.

A 2% pay increase for employees is worth less than the current rate of increase in prices. The fact that employers are predicting more of the same for the year ahead will not be welcome news for employees."

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