Yeah Were Getting More Money...

[teddyboy]

Just reading the daily blog there and seen this article.

Workers in the UK can expect average pay rises of 3.5% next year, below the predicted figure for many other European Countries, according to a new report.

Inflation is set to be around 2% in Britain in 2006 so employees can look forward to a wage rise above the increase in the cost of living, said Mercer Human Resource Consulting.

Inflations well above 2% is oil gonna drop to 60$ a barrel - DONT THINK SO!!!

Mercer said its research suggested that salary increases globally were expected to be higher next year.

Spokesman Greg Cornish said: "We have seen strong global economic growth in the past couple of years and all the signs indicate that this is set to continue in 2006.

Yeah in China!!!

"With this growth and more stable inflation we anticipate next year's pay rises to be higher."

We are expecting 2% and inflation is about 2.6% I think - would not call that "stable inflation"

Mr Cornish pointed out that although many eastern European countries had experienced high wage inflation since joining the European Union, their labour costs were still "extremely competitive".

He added: "Multi-national organisations continue to look to eastern Europe for opportunities to set up operations at a much lower cost than in western Europe."

So why pay me more money to do my job when you can send it to India for half the price?

Does that not mean that inflation is expected to be higher? I know my boss would NOT pay me 3.5% pay rise if inflation is only 2% as they suggest . What a pile of shyte!!!

How would the MPC react to this (if true) raise or lower interest rates? and by how much?

I think its trying to give a feelgood factor (scam) to make people feel richer so they will borrow more money?

thoughts anyone?

Edited October 3, 2005 by teddyboy

[BuyingBear]

The problem is that figure is already distorted by 7% public sector settlements.