| UK wage growth faster than expected. 12:50 - Jun 11 with 3231 views | pickles110564 |
Wage growth beat market and economist expectations in the three months to April.
Pay rose by 3.4% compared with a year ago. After taking inflation into account, wage growth was 1.4%, official figures show.
The unemployment rate remained at 3.8%, and has not been lower since the October to December 1974 period, the Office for National Statistics said.
The employment rate for women was 72%, the highest on record.
This is after changes to the state pension age leading to fewer women retiring between the ages of 60 and 65.
Matt Hughes, deputy head of labour market statistics at the ONS, said: "With employment growth among women coming from full-timers, the overall gap between men and women in hours worked is now the lowest ever - women now average about three-quarters of men's weekly hours, compared with around two-thirds 25 years ago."
And PwC chief economist John Hawksworth said it was "interesting" that female employment rose by 60,000 compared with the previous quarter, while male employment fell by 27,000.
"This is consistent with a longer-term trend towards a narrowing gender employment gap.
"Male employment is still higher at around 80%, but this is well below its historical highs of over 90% back in the 1970s."
Tej Parikh, chief economist at the Institute of Directors, said: "The buoyant labour market is still going strong for the UK economy, even as it weathers widespread political uncertainty."
Finally some great news! |  | | |  |
| UK wage growth faster than expected. on 14:44 - Jun 11 with 1199 views | Fixed_It |
Of course, that's whilst we are still in the EU. Let's see what happens when/if we leave... |  |
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| UK wage growth faster than expected. on 14:45 - Jun 11 with 1193 views | Pinewoodblue |
| UK wage growth faster than expected. on 13:28 - Jun 11 by footers |
Many UK businesses have been over-employing recently because of low wages and to increase productivity so they can stockpile ahead of departure. It's never quite what it seems.
That and we haven't actually left yet, of course. |
Increasing the number of people you employ enables you to increase production. Increase productivity comes from getting more out of your existing workforce. |  |
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| UK wage growth faster than expected. on 14:46 - Jun 11 with 1191 views | noggin |
Working people having to queue at food banks. But hey, look at those employment stats. |  |
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| UK wage growth faster than expected. on 16:23 - Jun 11 with 1166 views | WeWereZombies |
| UK wage growth faster than expected. on 14:45 - Jun 11 by Pinewoodblue |
Increasing the number of people you employ enables you to increase production. Increase productivity comes from getting more out of your existing workforce. |
Until you employ too many people and everyone gets in everyone else's way and production dips:
https://www.investopedia.com/terms/l/lawofdiminishingutility.asp |  |
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| UK wage growth faster than expected. on 18:38 - Jun 11 with 1141 views | Whymarkmariner |
| UK wage growth faster than expected. on 13:40 - Jun 11 by flimflam |
"Women born in the 1950s claim the rise is unfair because they were not given enough time to make adjustments to cope with years without a state pension"
What years without a state pension? Carry on working until retirement the same as men have to.
Selective Equality. |
In some ways I do agree with you, especially the selective equality bit. But as a male who is still working despite nearing my 69th birthday I have been hit in more ways than one. Firstly because I was a person who's 65th year fell in 2015 this was the last year before the age of retirement increased. Therefore I receive less o.a.p. than someone who retires now. secondly my wife has to wait until she's 66 instead of 60 and now that wonderful organisation called the BBC has decided that should I reach 75 I won't get a free TV licence. some will say "Well why should you". But when you consider that the Germans and French get much better state pensions than we in this Country do then it all points to how mean our system in this Country is. As for wage growth, well it's about time it outstripped inflation and even then I would argue that not everyone is getting 3.4% extra. |  | | |
| UK wage growth faster than expected. on 19:37 - Jun 11 with 1115 views | Swansea_Blue |
| UK wage growth faster than expected. on 18:38 - Jun 11 by Whymarkmariner |
In some ways I do agree with you, especially the selective equality bit. But as a male who is still working despite nearing my 69th birthday I have been hit in more ways than one. Firstly because I was a person who's 65th year fell in 2015 this was the last year before the age of retirement increased. Therefore I receive less o.a.p. than someone who retires now. secondly my wife has to wait until she's 66 instead of 60 and now that wonderful organisation called the BBC has decided that should I reach 75 I won't get a free TV licence. some will say "Well why should you". But when you consider that the Germans and French get much better state pensions than we in this Country do then it all points to how mean our system in this Country is. As for wage growth, well it's about time it outstripped inflation and even then I would argue that not everyone is getting 3.4% extra. |
We take pride in racing to the bottom. Not taking lunch breaks, working longer hours than necessary, dragging ourselves into work when we’re ill are all seen as aspirations and evidence that we’re committed to the cause. We’re rock hard.
I say it makes us idiots (although we do get more holidays on average than the yanks, unless you’re unlucky enough to be one of the rising self-employed or zero hours workers exploited by large organisations). |  |
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| UK wage growth faster than expected. on 20:20 - Jun 11 with 1096 views | BloomBlue |
| UK wage growth faster than expected. on 18:38 - Jun 11 by Whymarkmariner |
In some ways I do agree with you, especially the selective equality bit. But as a male who is still working despite nearing my 69th birthday I have been hit in more ways than one. Firstly because I was a person who's 65th year fell in 2015 this was the last year before the age of retirement increased. Therefore I receive less o.a.p. than someone who retires now. secondly my wife has to wait until she's 66 instead of 60 and now that wonderful organisation called the BBC has decided that should I reach 75 I won't get a free TV licence. some will say "Well why should you". But when you consider that the Germans and French get much better state pensions than we in this Country do then it all points to how mean our system in this Country is. As for wage growth, well it's about time it outstripped inflation and even then I would argue that not everyone is getting 3.4% extra. |
But the state pension isn't designed to be your only pension, it supplements your personal pension. I find it shocking when I hear youngsters in their 20s saying they wont put money into a pension and prefer to spend the spare cash on drinking. People have to take personal responsibility instead of expecting the government to take care of them. |  | | |
| UK wage growth faster than expected. on 20:23 - Jun 11 with 1093 views | SpruceMoose |
| UK wage growth faster than expected. on 20:20 - Jun 11 by BloomBlue |
But the state pension isn't designed to be your only pension, it supplements your personal pension. I find it shocking when I hear youngsters in their 20s saying they wont put money into a pension and prefer to spend the spare cash on drinking. People have to take personal responsibility instead of expecting the government to take care of them. |
I don't know the kind of people you knock around with, but I've never, not once, heard someone on their twenties say they don't pay into a pension because they want to spend it on booze.
I'm getting fed up of all the bashing of young people by old people who had it so much easier, and couldn't pull the ladder up fast enough when times got tough. |  |
| Pronouns: He/Him/His.
"Imagine being a heterosexual white male in Britain at this moment. How bad is that. Everything you say is racist, everything you say is homophobic. The Woke community have really f****d this country." | | Poll: | Selectamod |
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| UK wage growth faster than expected. on 20:29 - Jun 11 with 1088 views | BloomBlue |
| UK wage growth faster than expected. on 20:23 - Jun 11 by SpruceMoose |
I don't know the kind of people you knock around with, but I've never, not once, heard someone on their twenties say they don't pay into a pension because they want to spend it on booze.
I'm getting fed up of all the bashing of young people by old people who had it so much easier, and couldn't pull the ladder up fast enough when times got tough. |
Well I've heard loads say they wont pay into a personal pension.
And I disagree old people had it easier, the technology you have now is far advance, we hardly had a car or a telephone and when I was young we still had food rationing how many times have you been into a shop in your life and been restricted what you can buy. This generation has never had it so good. | | | |
| UK wage growth faster than expected. on 20:30 - Jun 11 with 1087 views | SpruceMoose |
| UK wage growth faster than expected. on 20:29 - Jun 11 by BloomBlue |
Well I've heard loads say they wont pay into a personal pension.
And I disagree old people had it easier, the technology you have now is far advance, we hardly had a car or a telephone and when I was young we still had food rationing how many times have you been into a shop in your life and been restricted what you can buy. This generation has never had it so good. |
I guarantee you're lying. You've not heard it said. Not once. Only in your head when you wanted to make your insulting point. | |
| Pronouns: He/Him/His.
"Imagine being a heterosexual white male in Britain at this moment. How bad is that. Everything you say is racist, everything you say is homophobic. The Woke community have really f****d this country." | | Poll: | Selectamod |
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| UK wage growth faster than expected. on 20:31 - Jun 11 with 1082 views | BloomBlue |
| UK wage growth faster than expected. on 20:30 - Jun 11 by SpruceMoose |
I guarantee you're lying. You've not heard it said. Not once. Only in your head when you wanted to make your insulting point. |
Nope I've heard it, you might not like it but I've heard it. | | | |
| UK wage growth faster than expected. on 20:32 - Jun 11 with 1081 views | SpruceMoose |
| UK wage growth faster than expected. on 20:31 - Jun 11 by BloomBlue |
Nope I've heard it, you might not like it but I've heard it. |
Nah. No way. | |
| Pronouns: He/Him/His.
"Imagine being a heterosexual white male in Britain at this moment. How bad is that. Everything you say is racist, everything you say is homophobic. The Woke community have really f****d this country." | | Poll: | Selectamod |
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| UK wage growth faster than expected. on 09:39 - Jun 12 with 1027 views | Whymarkmariner |
| UK wage growth faster than expected. on 20:20 - Jun 11 by BloomBlue |
But the state pension isn't designed to be your only pension, it supplements your personal pension. I find it shocking when I hear youngsters in their 20s saying they wont put money into a pension and prefer to spend the spare cash on drinking. People have to take personal responsibility instead of expecting the government to take care of them. |
Who said I didn't have any other income ? As it happens, I do. I get a final salary pension from a Company that I worked for. I choose to work so that I can have those little extra's. I think you'll find that those that have just the o.a.p. aren't exactly gifted extra benefits. Gordon Brown in his infinite wisdom decided to tax dividends that Company pension schemes got through the running of final salary schemes. Hence the end of final salary pension schemes. Now we have Government telling us to put money into Company pension schemes which they are obliged to offer, but many of these are a poor substitute for the original schemes. Bit like the "Buy diesel cars because they are cleaner than petrol" Now diesel is very bad. Governments change the rules to suit themselves, my qualifying for an o.a.p. was 44 years, I think it's now 35 years. Pity I wasn't an MP it's only, I believe 7 years. So whilst you tell me I should make arrangements for my retirement, which I have, consider those that don't earn enough to save for a decent retirement. Put in £100,000 into an annuity, get out £5000 a year, not exactly living in comfort is it. | | | |
| UK wage growth faster than expected. on 10:49 - Jun 12 with 1015 views | longtimefan |
| UK wage growth faster than expected. on 09:39 - Jun 12 by Whymarkmariner |
Who said I didn't have any other income ? As it happens, I do. I get a final salary pension from a Company that I worked for. I choose to work so that I can have those little extra's. I think you'll find that those that have just the o.a.p. aren't exactly gifted extra benefits. Gordon Brown in his infinite wisdom decided to tax dividends that Company pension schemes got through the running of final salary schemes. Hence the end of final salary pension schemes. Now we have Government telling us to put money into Company pension schemes which they are obliged to offer, but many of these are a poor substitute for the original schemes. Bit like the "Buy diesel cars because they are cleaner than petrol" Now diesel is very bad. Governments change the rules to suit themselves, my qualifying for an o.a.p. was 44 years, I think it's now 35 years. Pity I wasn't an MP it's only, I believe 7 years. So whilst you tell me I should make arrangements for my retirement, which I have, consider those that don't earn enough to save for a decent retirement. Put in £100,000 into an annuity, get out £5000 a year, not exactly living in comfort is it. |
"Put in £100,000 into an annuity, get out £5000 a year, not exactly living in comfort is it."
And that's only if you opt for non-inflation proof with no surviving spouse pension. Drops down to less than 4K if you opt for full inflation proofing and 50% spouse pension. | | | |
| UK wage growth faster than expected. on 10:52 - Jun 12 with 1015 views | No9 |
| UK wage growth faster than expected. on 20:29 - Jun 11 by BloomBlue |
Well I've heard loads say they wont pay into a personal pension.
And I disagree old people had it easier, the technology you have now is far advance, we hardly had a car or a telephone and when I was young we still had food rationing how many times have you been into a shop in your life and been restricted what you can buy. This generation has never had it so good. |
The UK pension industry needs an overhaul, it is one of the biggest rip-offs in the UK /Europe which is why many young people won't put money into private pensions.
& only rich youngsters like the ones you know have enough to put into pensions | | | |
| UK wage growth faster than expected. on 10:55 - Jun 12 with 1013 views | No9 |
| UK wage growth faster than expected. on 13:00 - Jun 11 by StokieBlue |
I was going to post the same link.
Some huge cherry picking from pickles there.
SB |
Cherry picking indeed.
& considering the latest economic numbers maybe not informative at all?
My wife hours 6 hours a week, she's considered by the Gov Dept's to be in full time employment. | | | |
| UK wage growth faster than expected. on 10:56 - Jun 12 with 1012 views | No9 |
So can you tell us how there are so many people still suffering 'in work poverty'? & why there are 4 millions children in poverty needing feeding?
What is the difference between being unemployed & being inactive? | | | |
| UK wage growth faster than expected. on 13:12 - Jun 12 with 994 views | britbiker |
| UK wage growth faster than expected. on 14:05 - Jun 11 by Sikamikanico |
looked up my mum's new state pension age and was increased to over 65. admittedly I hadn't needed to check that age for her for the last 8 years.
I would say though that hers would be the same as a man born on the same day so I still don't have an issue with it. Life expectancies are longer.
Statistically, if you make it to 83 you are more likely to survive the next 7 years than not (IHT planning seminar tidbit for you) |
The changes in everyone's state pension (not just women) were put in place years ago and done on a sliding scale so that nobodys retirement date just suddenly jumped.
Mine in now 67. Problem is there are many tradespeople who will find it impossible to continue their trade until that age due to health and although they may have some private pension arrangements; many will have counted on the State pension to kick in at 65.
I was fortunate to have worked in the pensions industry prior to becoming a tradesman so I was aware how much was needed in retirement. Even though I put aside more than 12% of my income (which was more than I could actually afford at that time), its still not sufficient to retire on. Remember that there is no employer contribution to top up the plans.
Ive seen roofers and decorators sell up and move abroad in order to be able to retire as their bodies were no longer able to take the strain of their life long trade.
Can you imagine being a roofer at age 65. [Post edited 12 Jun 2019 13:19]
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