{"id":297744,"date":"2011-03-10T07:50:15","date_gmt":"2011-03-10T07:50:15","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/10\/uk-pay-rises-reach-record-low\/"},"modified":"2011-03-10T07:50:15","modified_gmt":"2011-03-10T07:50:15","slug":"uk-pay-rises-reach-record-low","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/10\/uk-pay-rises-reach-record-low\/","title":{"rendered":"UK pay rises &#8216;reach record low&#8217;"},"content":{"rendered":"<p><div readability=\"54.1805912596\">\n        \t\t  <span><br \/>\n    <span>10 March 2011<\/span><br \/>\n<span>Last updated at <\/span><span>02:50 ET<\/span><br \/>\n<\/span><\/p>\n<p>Private sector pay at UK listed companies has risen at the slowest rate on record, a survey suggests.<\/p>\n<p>Earnings rose at an annualised rate of just 0.5% in the three months to February, according to the Vocalink FTSE 350 index.<\/p>\n<p>The rate is well below consumer prices index (CPI) inflation, which is currently running at 4%.<\/p>\n<p>Manufacturing employees were hardest hit, seeing a sudden 0.6% shrinkage in pay packets during the period.<\/p>\n<p>The findings &#8220;corroborate [Bank of England governor] Mervyn King&#8217;s view that UK households are currently being subjected to the most prolonged squeeze on real incomes since the 1920s&#8221;, <a href=\"http:\/\/www.vocalink.com\/press-room\/press-releases-2011\/vocalink-ftse-350-take-home-pay-index-drops-back-to-lowest-level-on-record-.aspx\">said Marion King, Vocalink&#8217;s chief executive<\/a>.<\/p>\n<p>&#8220;The outlook for the consumer remains bleak this year and this could place significant downward pressure on growth.&#8221;<\/p>\n<p>The index is compiled by Vocalink &#8211; which provides payments services to banks &#8211; along with the Centre for Economic and Business Research, using salary payment data from over 200 of the FTSE 350 companies.<\/p>\n<p>The slow rise in private sector earnings contrasts with a 1.3% increase in public sector take home pay during the same period, according to the research group, which also surveys 600 government organisations.<\/p>\n<\/p><\/div>\n<\/p>\n<p>Read the original here:<br \/>\n<a target=\"_blank\" href=\"http:\/\/www.bbc.co.uk\/go\/rss\/int\/news\/-\/news\/business-12696710\" title=\"UK pay rises 'reach record low'\" rel=\"noopener noreferrer\">UK pay rises &#8216;reach record low&#8217;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> 10 March 2011 Last updated at 02:50 ET Private sector pay at UK listed companies has risen at the slowest rate on record, a survey suggests. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-297744","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - 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