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Cost Of Living: Pay Rises Outpace Inflation

PembsPanther
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Registered: 07-07-2012

Cost Of Living: Pay Rises Outpace Inflation

Well would you Adam & Eve it? All is well Dave & Co are doing a fab job people who are poor, are poor because they spend their money on fags, booze oh and lets not forget Sky TV  Shocked
http://news.sky.com/story/1371766/cost-of-living-pay-rises-outpace-inflation
Quote
Wages are now rising at a stronger pace than inflation for the first time since 2009, easing the squeeze on household budgets.
Pay has largely lagged inflation since the financial crisis of 2008 and the Office for National Statistics (ONS) said today that wages, excluding bonus payments, rose 1.3% on an annual basis in September.
The Consumer Prices Index measure of inflation for the same month was 1.2%.
The announcement formed part of wider employment figures which showed that while the jobless rate remained at a six-year low of 6% in September, the total without work fell by 115,000 in the third quarter of the year.
The ONS said employment increased by 112,000 in the period to 30.7 million, the highest since records began in 1971.
The number of people claiming the main unemployment benefit - jobseeker's allowance - has fallen every month for the last two years and is now more than half a million lower than May 2010's level.

So in September 115 000 people were sanctioned by the job centre then, figure massaging at its best, does this government really think we are all a bunch of muppets? They must do!
Rachel Reeves speak a little more sense:
Quote
Shadow work and pensions secretary Rachel Reeves said: "Today's fall in overall unemployment is welcome, but after four years when prices have risen faster than wages there is a huge amount of lost ground to catch up.
"Working people are now over £1,600 a year worse off than when David Cameron came to office, most people are not feeling any recovery and the link between the wealth of the nation and family finances remains broken."

I used to despair now I am just gob smacked!
7 REPLIES
Community Veteran
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Registered: 15-06-2007

Re: Cost Of Living: Pay Rises Outpace Inflation

All I will say is the RPI is 2.3% so stuff that in your pipe and smoke it Sky and the change to CPI was done under a Labour Government - they are all as bad as each other  Angry
http://www3.hants.gov.uk/finance/retailpricesindexandconsumerpriceindex.htm
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Re: Cost Of Living: Pay Rises Outpace Inflation

Misleading title on this thread.....
0.1% is hardly "outpacing" by anyone`s ( except  SKY ) standard...
Community Veteran
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Re: Cost Of Living: Pay Rises Outpace Inflation

I used to have some time for DaveC but he's gone a bit TonyB lately in respect of the figures released by his Administration.
Now Zen, but a +Net residue.
Community Veteran
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Registered: 27-10-2012

Re: Cost Of Living: Pay Rises Outpace Inflation

I'm not quite sure why the Sky News report doesn't use and total wage growth (KAC3) compared to CPIH.
CPIH = modified CPI taking into account housing costs, mortgage and interest payments.
KAC3 = Total weekly wages including bonuses.
CPIH for September is at 1.2% YOY and KAC3 for Sep is at 1%.
You'll find that prior to the 2007/8 financial crises, wage growth outpaced inflation. Once the financial crisis hit, inflation outpaced wage growth and has done ever since.
Community Veteran
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Re: Cost Of Living: Pay Rises Outpace Inflation

Quote from: PembsPanther
All is well Dave & Co are doing a fab job

<nearly chokes>
Steady on!!!
I need a new signature... i'm bored of the old one!
Community Veteran
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Registered: 23-09-2010

Re: Cost Of Living: Pay Rises Outpace Inflation

"Cost Of Living: Pay Rises Outpace Inflation"

Ha ha ha ha ha ha ha ha ha ha.
198kHz
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Re: Cost Of Living: Pay Rises Outpace Inflation

On seeking clarification with the fairies at the bottom of my garden this evening, I can confirm that we're all better off thanks to Mr Cameron.
Not young enough to know everything