BBC News - UK wages grow at record rate
UK wages grow at record rate
https://www.bbc.co.uk/news/business-66501937
Regular pay grew at an annual rate of 7.8% between April and June but the unemployment rate rose.
Strong pay growth means the Bank of England could raise interest rates again in September, from the current rate of 5.25%.
The jobless rate rose from 4% to 4.2%, while the number of people in employment ticked lower.
Good to see the worst off will be hit the most as always.
It would be interesting to see a breakdown of pay ranges where this wage growth is happening.
We've been told no pay rises because of "current economic conditions" but I'm sure the execs have had theirs
Coincidentally, I have a meeting today with my management to talk about increasing my pay. I've prepared a pdf giving examples of the value I'm bringing to the business, as well as reasonable salary expectations.
Just like last year, and the year before that, I'm likely to get the same spiel about how "things are up in the air," and there are "wider discussions being had about pay at the top, so there's nothing we can commit to right now". This is despite our parent company making billions in profit per year and our company enjoying healthy growth as well.
Time to look for another job, I think.
In my experience only when you show that you are ready to leave tomorrow (potential with a competing offer on hands) do they finally consider to actually raise your salary to just barely match inflation.
You're completely right, and it's something I'm going to have to consider depending on how my meeting later goes. Either way, applying for a new role is probably the best idea.
My landlord wants more money, our water bill has just gone up, as has our electric bill. Everyone wants more money, and I'm just struggling to see how my wife and I are supposed to save to buy our own place. I know our situation is far from isolated; it just feels so exhausting.