Latest Industry News
19 Nov 2018
Data published by the Office for National Statistics (ONS) has revealed that wages rose at the fastest pace in almost a decade in the three months to September.
When compared to the same period last year, wages, excluding bonuses, grew by 3.2% – representing the biggest increase since 2008.
Once adjusted for price inflation, average weekly earnings (excluding bonuses) increased by 0.9% to total £493, the data showed.
Commenting on the figures, Matt Hughes, Senior Statistician at the ONS, said: ‘With faster wage growth and more subdued inflation, real earnings have picked up noticeably in the last few months.’
However, the Trades Union Congress (TUC) stated that pay needs to ‘rise faster’.
Frances O’Grady, General Secretary of the TUC, said: ‘The government could help by giving working people more power in pay negotiations. Unions should have the freedom to enter every workplace to negotiate fair pay rises. And insecure workers need new protections so they have the security to demand fair pay.’
For tailored advice on how to best manage your personal and business finances, get in touch with us today and find out about how CBHC can help you do more with your money.