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Wage growth

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    Wage growth

    What is interesting, is that employment in the UK is at an all time record, unemployment is at an 11 year low at less than 5%, and yet wage growth isn't really going anywhere and hasn't move much for many years.

    In a tight labour market you would expect wage pressure. Everyone who wants to work has a job, and so to attract the best workers, wages should be rising fast.

    I smell a rat.

    #2
    Originally posted by DimPrawn View Post
    What is interesting, is that employment in the UK is at an all time record, unemployment is at an 11 year low at less than 5%, and yet wage growth isn't really going anywhere and hasn't move much for many years.

    In a tight labour market you would expect wage pressure. Everyone who wants to work has a job, and so to attract the best workers, wages should be rising fast.

    I smell a rat.
    EU and cheap labour innit.
    What happens in General, stays in General.
    You know what they say about assumptions!

    Comment


      #3
      Originally posted by DimPrawn View Post
      What is interesting, is that employment in the UK is at an all time record, unemployment is at an 11 year low at less than 5%, and yet wage growth isn't really going anywhere and hasn't move much for many years.

      In a tight labour market you would expect wage pressure. Everyone who wants to work has a job, and so to attract the best workers, wages should be rising fast.

      I smell a rat.
      GDP has increased, GDP per capita hasn't... Many people are on low wages and there is an endless supply of cheap labour from Eastern Europe so there is always someone willing to work and able to fill the job you've just taken...

      And still people wonder (Sas / Cretin (by name and by nature)) why Brexit won the election....
      merely at clientco for the entertainment

      Comment


        #4
        So the real test of Brexit success will be:

        Wage growth
        GDP per capita rising

        If we can throw in falling housing costs, in real terms, we will be enjoying a much higher standard of living.

        Comment


          #5
          Wages will rise anyway with the national living wage.

          Comment


            #6
            Originally posted by minestrone View Post
            Wages will rise anyway with the national living wage.
            I'm on about proper jobs, like MF's job.

            Oh hang on.....

            Comment


              #7
              But how come Japan has lower average incomes than the UK ?

              It has a shortage of workers:

              Lack of Workers Hobbles Japan’s Growth - WSJ

              And no immigration

              Japan's 'no immigration principle' looking as solid as ever | The Japan Times

              ...and yet lower average incomes than the UK

              https://en.wikipedia.org/wiki/List_o...y_average_wage

              Note Switzerland is quite high on the list and has greater net immigration than the UK

              Puzzling to say the least.
              I'm alright Jack

              Comment


                #8
                Originally posted by BlasterBates View Post
                But how come Japan has lower average incomes than the UK ?
                Maybe because it is an economic basket case? Did you think of that?

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                  #9
                  Taking wages on their own is like taking revenue without looking at costs when comparing country to country.

                  Switzerland has a high cost of living.
                  The greatest trick the devil ever pulled was convincing the world that he didn't exist

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                    #10
                    It's easy to have more people in employment when they're 'all' on part time work doing 16 hours a week so they can leech all the benefits.

                    Never mind, that universal tax credit system fiasco will one day kill off tax credits for good and do the job that Osborne chickened out of.
                    Maybe tomorrow, I'll want to settle down. Until tomorrow, I'll just keep moving on.

                    Comment

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