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Out Of Recession? Right - Now Let's Get Those Salaries Restored

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http://www.i-l-m.com/publications/2363.aspx?articleid=19895908&articleheading=Pre-recession+salaries+not+yet+reinstated

Pre-recession salaries not yet reinstated

19 July 2010

Despite the recession being officially over, many workers' salaries have still not returned to the level they were at prior to the downturn, according to research by Badenoch & Clark.

A large number of employees opted to take pay cuts during the economic crisis to avoid being made redundant, and data shows that 77% of these individuals have not had their full salaries reinstated.

However, the study also found that employees remain hopeful their pay will rise in the near future, with 76% hoping to return to their full salary in the coming months, despite the fact that just 15% have been assured this will definitely happen.

Lynne Hardman, managing director at Badenoch & Clark, said: "Now the UK is emerging out of recession, we could see employees being given more work for a lower remuneration package than pre-recession, which in turn could lead to many UK employees embarking on a search for new employment."

Last month, data from Income Data Services found that the typical pay rise in the private sector was two per cent in the three months to May.

There we are. Full power again Cap'n - damage report says we're good to go <_<

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Just been given a 5% increase, after 2 years wage freeze. Of course, I'm sh1t hot at my job, which helps.

Not planning on trading up to the 10-bed mansion just yet however.....

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Just been given a 5% increase, after 2 years wage freeze. Of course, I'm sh1t hot at my job, which helps.

Not planning on trading up to the 10-bed mansion just yet however.....

I got a 3% rise this year after nothing since... erm... 2007? 2008? Can't remember. I'm $H1T hot at my job too, though apparently not as $H1T as you.

Edited: It's more like 3% to be honest - just worked it out :(

Edited by AvidFan

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Officially we're "just" out of recession

Unofficially we're still phucked.

Unofficially , the real recession is just starting, last year was just the starter, praying the government to start to stop stupid and unnecessary speeding :):) Now we are going to eat the main meal!!!!

Edited by Menie

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I got a 3.2% rise this year after nothing since... erm... 2007? 2008? Can't remember. I'm $H1T hot at my job too, though apparently not as $H1T as you.

Supermarket transportation is my field. On the up in general, I suspect that's where the new money has come from.

Interesting though, given the stagflation predictions. Perhaps we should have a poll of the forum employee's (self-employed seem to be going through a sticky patch). Have you had a mid-year (post-recession?!?!?!) wage rise?

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I got 6% this year.

When you are part of the labour market and your skills are in demand, employers realise they have to pay.

1975 -1985 wages doubled even though unemployment went up 4 fold during the same time period.

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I got 6% this year.

When you are part of the labour market and your skills are in demand, employers realise they have to pay.

1975 -1985 wages doubled even though unemployment went up 4 fold during the same time period.

Better fill ya boots whilst ya can, ow yes er ree. ;)

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I got 6% this year.

When you are part of the labour market and your skills are in demand, employers realise they have to pay.

1975 -1985 wages doubled even though unemployment went up 4 fold during the same time period.

I have been made redundant last day in two weeks. Just got offer for a new job at 18% more than I am currently on, thanks redundancy!

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(self-employed seem to be going through a sticky patch). Have you had a mid-year (post-recession?!?!?!) wage rise?

Sticky patch.

Like a roach motel. :(

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I have been made redundant last day in two weeks. Just got offer for a new job at 18% more than I am currently on, thanks redundancy!

well done..you escaped the bullet... ;)

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1975 -1985 wages doubled even though unemployment went up 4 fold during the same time period.

....in 1975 the cost of living index was 130.8 and increased to 373.2 by 1985...during that time inflation highlights were 1975=24.2%, 1976=16.5% and 1980= 18%....was doubling of wages enough...?.... :rolleyes:

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Peoples wages seem to be getting lower and lower in relation to costs. For years the infaltion figures tell us things like , 2% ,2.2% , 1% and wage rises have been linked to these figures . But I for one do not beleive the inflation figures and think that they have been much higher than what we have been told. People have been able to carry on spending and creating an economy by cheap credit and MEW ing. Now that has stopped people have taken pay cuts and now cannot afford the life sytle that we have had.

The wage's I hear that some people earn is unbeleviable. Two things I heard this week.

1. Mother of a twenty year old unemployed woman , told me her daughter has to do 25 hours a week voluntary work in order to get her JSA , so working for dole is already happening . She works for a charity where they have a manager an assistant manager and one other member of paid staff ,the rest are unemployed forced volanteers's.

No wonder there is so much unemployment.

2. Speaking to a 22 year old woman , who told me she works for the prison service. She is not a prison officer , they have created a grade below prsion officer. At night she goes into work and the prisoners are locked up by the time she gets there . Her job during the night is go around the wing and check on the prisoners via the peep holes , she also gives them any medication that they must have by a letter box arrangement . If she does need to open a cell in an emergency she calls for one of the few prison officers who are on duty in the prison. All the wings are at night looked after by people on her grade. She is on her own on this wing which houses 120 people.

This is a cat "B" prison , muderer's, rapist's, armed robbers ect. She works 12 hour night's, seven nights on seven off. For this permanent night shift job she earns the princely sum of £16,500 . No wonder so many young woman have said f--k it and got themselves a few kids and let the state pay . Doing the right thing just leaves people open to having the pi-s taken out of them. When i went on night shift in a factory 24 years ago in order to buy my own home i was getting £13,000 a year back then.

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http://swanlowpark.co.uk/bank0604.jsp

Savings rates after 20% tax have always outstripped RPI for the given year, see link.

Since 1985 in 24 years to 2009 £100.00 would be worth over £300.00, had it been held in a savings account and you had paid 20% tax.

https://spreadsheets.google.com/ccc?key=0AukZxRfCd2u5dDhYSVpuLTVNaHBtdjU3SUxycU9vcHc&hl=en_GB#gid=0

Apart from 2009 and 2006, but even so, cash easily stays with wages, and wage increments, well it has for the last 24 years.

All this crap regarding cash is trash, well if cash is trash so are wages in comparison to real cash, not numbers, not credit but stuff you can buy food with money, what you earn money, why you get up in the morning money.

Deflation in costs no, deflation in credit yes?

P

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  • 145 Brexit, House prices and Summer 2020

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