Private sector pay rises at 3%

By Press Association , Jun 28, 2012
Filed under: Career

Median pay rises in private firms have remained at 3% in recent months, just above the figure for the whole economy, according to research.

A study of 131 settlements in the quarter to May, covering more than 2.3 million workers, showed that half were at or above this level.

How the rich get richer

Pay analysts IDS said the median settlement for the whole economy has continued to slip back, and now stands at 2.5%, compared with 2.8% in the three months to April, mainly because of continuing wage freezes in the public and voluntary sectors.

Ken Mulkearn, editor of IDS's pay report, said: "The recent sharp fall in RPI inflation, from 3.5% to 3.1%, reduces the gap between median pay awards in the private sector and the generally accepted measure of the cost of living to just 0.1%.

"If private sector pay settlements remain at current levels, and inflation falls further, then the squeeze on workers' incomes, which began in 2008, will have been loosened significantly, but public sector workers will continue to feel the effects of extremely tight pay restraint."

Tags: career, employment, news, pay, private sector

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cgjreid

does not even cover the extra costs that they need for pension. I would have a public sector job anyday just for the pension and employment conditions.

June 28 2012 at 6:34 AM Report abuse Permalink rate up rate down Reply

1 reply to cgjreid's comment

canofduffbeer

strange that, i work in the public sector and have done for 13 years, I would swap it tomorrow if i could for a private sector job but i have worked so hard to get this job.... what a shame.... I work extremely hard, care about my job and do the best ib can every day, I work many extra hours for no pay, work under terrible conditions that in the private sector would be taken to court for terrible health and safety breaches, i am forbidden to join a union if i try i would be sacked, if i talk about striking due to the working conditions again i would be sacked, arrested and face imprisonment unlike private sector jobs.... If I make an honest mistake at work or something happens that I have no control over then again I face the posibility of being dimissed and face imprisonment......I have had massive pay cuts , my working conditions are decided by other people and i have no say in them, i pay almost £400 a month into my pension scheme soon to rise to £500 a month for a ok pension at the end ( soon to be made a much worse pension ), I am not permitted to have bonuses and we are facing the possibility of redundancy and be forced to work an extra 10 years for any pension!!! Only a very small minority of public sector jobs have excellent pay, gold plated pensions , huge bonuses and do they do nothing or are lazy... Most public sector workers are like me making the best of a terrible situation... I wish they would get rid of some of the lazy, cant be arsed public sector workers it would make my job so much easier.... Anyway the point to my rambling is that it is always greener on the other side... public or private we are all screwed in this country... And yes i live and work in England before anyone says that these conditions can not exsist here, well they most certainly do....

June 28 2012 at 8:16 AM Report abuse Permalink rate up rate down Reply

1 reply to canofduffbeer's comment

forgot to say i often work 8 or 9 hours a day with no breaks.... been forced to work 15 or 16 hours and not allowed to leave, if i did i would face the sack.... I have been forced to work 12 days solid with no days off and told when I work and for how long often under the worst conditions you could imagen.... even taking all this into account I do my job because I want to help society, I care about people and want to do my bit in ife... yes the pay is average and the pension ok ( but getting far worse) oh well lets hope there is an after life else im knackard!!!!

June 28 2012 at 8:23 AM Report abuse Permalink rate up rate down