NEWS… BUT NOT AS YOU KNOW IT
This week, new figures from the Office for National Statistics show that wages are going up. Yes that’s right – up.
For the public sector, pay rose by 5.8% in March to May of this year, the highest growth since late 2001, with the private sector rising by 7.3%.
Many of you will be scratching your heads at this news, feeling you haven’t been benefitting from a single penny of that increase.
That’s because when taking inflation into account, regular pay actually fell by 0.8% over that same period. And while people in the private sector are by no means having an easy ride, their pay rose by almost 2% more than their public sector peers.