The cost of living has stayed the same, according to the latest figures from the Office for National Statistics. 516-267-1239
The latest figures from the Office for National Statistics (ONS) indicate that the labour market could be on the turn, with employment down and unemployment up slightly, in contrast to previous trends. However, it is too early to ascertain whether the latest data represent a fundamental change in prospects for the labour market. Continue reading Is the labour market on the turn?
Growth in average earnings strengthened further in the latest figures from the Office for National Statistics (ONS), despite bonus pay showing a fall. The latest figures from the ONS show that total pay growth was 3.0% in the year to September, up from 2.8% in August and 2.6% in July. This is the highest rate of growth for some time. The rate of growth in September 2017 was 2.2%. Continue reading Earnings growth strengthens further in spite of weak bonuses
While the median pay increase across the economy remains steady at 2.5%, the proportion of awards at or above 3% has increased in the three months to the end of September 2018, according to the latest monitored figures from IDR. The private sector median also remains at 2.5%. The proportion of higher awards, ie those at or above 3.0%, account for a third of all the awards in the sample, up from a quarter in the previous period.
The Government has raised the minimum wage based on the Low Pay Commission’s recommendations. The new statutory minimum for workers aged 25 and over, or the National Living Wage (NLW), will increase by 4.9% to Â£8.21 in April 2019.
The LPC have said that the NLW is on track to rise to Â£8.62 in April 2020 based on the target of 60% of median earnings.
Bryan Sanderson, Chair of the LPC, said:
I am pleased that the Government has again accepted in full the Low Pay Commissionâs recommendations for future minimum wage rates. The increase in the National Living Wage (NLW) to Â£8.21 in April 2019 will ensure a pay rise for the lowest-paid workers that exceeds both inflation and average earnings.
IDR monitoring of pay reviews in local government shows that while the median at opted-out councils is in line with the National Joint Council pay award, merit-based rises appear to be gaining popularity among employers outside the national deal.
Company cars are a popular employee benefit, although most schemes only benefit managers or those needing a vehicle to undertake their duties. In 2017, company-owned cars accounted for 8.9% of all registered cars.
Mileage allowances are so-called because they are not restricted to the reimbursement of fuel but take into account running costs such as wear, tear and insurance. As such, they tend to be higher than company car fuel rates. Continue reading Mileage allowances
The median pay award across the whole economy remains at 2.5% in the three months to the end of August 2018, according to the latest figures from IDR. The median remained steady in both the private and public sectors, at 2.5% and 2.0% respectively. Awards at firms in the manufacturing area produced an increased median of 2.8%, up by 0.4% since the three months to July with a similar sample size.
The median pay increase across the economy held steady at 2.5% in the three months to July 2018, according to the latest monitoring figures from IDR. It has not dipped below this figure since the three
months to November 2017. Continue reading Pay reviews – Median rise steady at 2.5%