Wages Start To Pick Up

[fellow]

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=4085866

LONDON (SHARECAST) - Wages, one of the main measures the Bank of England monitors in assessing interest rate levels, picked up strongly at the start of 2011 according to Incomes Data Services' keenly watched survey.

IDS's median pay award jumped to 2.8% in the three months to January from 2.2% in the three months to December. It was the highest reading for two years, though IDS said the survey may have been skewed by manufacturing pay rises in January.

There was also a drop in public sector pay awards following a spate of three-year deals, IDS said.

"Our latest figures show that wage rises have picked up in manufacturing and the level of awards in private services appears to have picked up too," said Ken Mulkearn, editor of the IDS Pay Report.

"The number of awards at 3% or above has been rising, and this has emerged as a key figure in pay-setting."

Are you reading this, Merv?

[Deckard]

There was also a drop in public sector pay awards following a spate of three-year deals, IDS said.

http://www.youtube.com/watch?v=aIrhVo1WA78&feature=player_detailpage

[Colin]

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=4085866

Are you reading this, Merv?

I would hazard a guess that 99% of the total wage rises in these statistics are banksters.

Merv knows this. Bankster pay doesn't drive inflation because they either off-shore it or spend it on imported cars or fine wine. None of it trickles down to the real economy - even property nowadays.

Edited March 3, 2011 by Colin

[fellow]

I would hazard a guess that 99% of the total wage rises in these statistics are banksters.

Merv knows this. Bankster pay doesn't drive inflation because they either off-shore it or spend it on imported cars or fine wine. None of it trickles down to the real economy - even property nowadays.

IDS's median pay award jumped to 2.8% in the three months to January from 2.2% in the three months to December. It was the highest reading for two years, though IDS said the survey may have been skewed by manufacturing pay rises in January.

[Bloo Loo]

Beware the IDS of March

http://www.ids.co.uk/

[Ash4781]

Are these nominal?

[singlemalt]

and so it begins!....

[chronyx]

and so it begins!....

What is the implication here? Sorry if I'm being fick

[Beggar Thy Children]

It's the dreaded wage inflation spiral of course!

[Fairies Wear Boots]

Hang on, didn't Merv say that if wage inflation started to take off it'd be worrying?

WTF is he doing!!!!

[interestrateripoff]

Hang on, didn't Merv say that if wage inflation started to take off it'd be worrying?

WTF is he doing!!!!

Probably double checking if this is prole wage inflation or banker wage inflation, if it's the former it's brown trouser time for him as he'll have to act unless it's increases in wages around the 2% inflation target and if it's the latter banker wages don't matter as they aren't proles.

[Bear Goggles]

We've got our company pay reviews coming up in April. I'm going to have to give everyone we want to keep an above inflation pay rise. Good people find new jobs easily - even in a recession - everyone is feeling the pain of rising prices and I can't afford to lose anyone good right now.

We also gave our house cleaner a 25% pay rise this month. That's only a fiver a week, but living on low wages must be very hard at the moment and she's a hard worker.

It'll be interesting to know if it is just me doing this. I suspect not.

[Trampa501]

We've got our company pay reviews coming up in April. I'm going to have to give everyone we want to keep an above inflation pay rise. Good people find new jobs easily - even in a recession - everyone is feeling the pain of rising prices and I can't afford to lose anyone good right now.

We also gave our house cleaner a 25% pay rise this month. That's only a fiver a week, but living on low wages must be very hard at the moment and she's a hard worker.

It'll be interesting to know if it is just me doing this. I suspect not.

Well exactly. There comes a point where people aren't going to keep on working at subsistence levels when they know their employer is making money, or they can get more elsewhere (even if it means a longer commute or harsher conditions). Despite the cries of deflation, prices are not going down - in most areas eg food, transport etc they are rising sharply. Not everyone has the choice, but those who do will soon make their preference known.