UK wages rise faster than expected - but don’t keep up with inflation
2023 ж. 13 Ақп.
136 030 Рет қаралды
The British economy suffered the same malaise as the rest of the industrialised world during the pandemic.
But as other countries recover we seem to be suffering a bout of long economic Covid, and like Covid it is full of mysteries.
Wages are growing at a faster rate, but not in line with inflation - and productivity remains very low.
Trade has suffered, in part down to Brexit, but the number of people over 50 who left the world of work during the pandemic never to return is also presenting a major challenge for the economy.
(Subscribe: bit.ly/C4_News_Subscribe)
-----------------------
Follow us on Instagram - / channel4news
News Alert! Inflation hasn't just started to affect us. People have been suffering greatly from inflation for almost a century, but notably after 1971. During the industrial revolution, prices of products and services were auctioned down to the point that consumers could literally buy them for as little as a penny thanks to a free market and sound money. All of the problems we have today are a result of government meddling.
One strategy for protecting against inflation is to buy equities. Investors, especially during a recession, need to know where and how to put money in order to make money while avoiding inflation.
I think it's great to use a portfolio advisor when investing. Before I met with a certified portfolio advisor during the pandemic crash in March 2020, I had recently started having terrible dreams. Finally, with the help of my advisor, I was able to increase my initial investment of $400k to over $2.8 million dollars.
@@danieljackson87 Where may one locate a wise FA? Even while I like the idea of using their services, it's unfortunate that recent stock market catastrophes have started to happen more frequently.
Her name is Stacey Laura Alviani can't divulge much. Most likely, the internet should have her basic info, you can research if you like.
Simply by pasting Stacey’s full name into my browser, her website immediately displayed. You've spared me from doing a lot of tedious research, so thank you.
You may not have noticed inflation in years past, But 8%+ inflation over the past year should've taught you that the cost of living increases every year (home prices, rent, groceries, plane tickets, home repairs, etc.) Only way to beat inflation is by investing your money
The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse is near.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
@@adenmall7596 How can i get started when it comes to investing and passive income?
@@lucianoboccedi Personally I work with ‘’Eleanor Annette Eckhaus’’ a pro who sets asset allocation that fits my tolerance and risk capacity, invstment horizon, present and future goals. My portfolio have accrued gains of about $130k
@lucIano boccedi save money first..I know its not easy I've been there now owning 2 btl homes its the only think helping me meet two ends together
There's not a worker shortage, there's a shortage of jobs paying wages that people are willing to work for.
if the pay was right im sure these 'shortages' would disappear. ?
If cheap EU labourers were able to enter without hindrance these jobs would be filled.
Oh, I'm sorry.. the shame of minimum wage+pension is too little right?
@@simonburnett765 they caused the problem all jobs now pay minimum wage
@@Goady1000 all jobs have paid minimum wage since the 2007-08 financial crisis and it's never improved
Inflation, bank collapse, severe drought in the agricultural belt, recession, food shortages, diesel fuel and heating oil shortages, baby formula shortages, available automobile shortages and prices, the price of living place.
THANK GOD
I wish people would change the way they talk about wages. A “rise” below inflation is in fact a cut. It should be called a cut.
@Barry exactly Barry, thatchers legacy has crippled the country.
The whole point of the system is to make people feel like they are getting a pay rise when they are in fact NOT getting a pay rise. It's a feature of the current system that is 100% deliberate.
Companies with unrealistic expectations looking for unicorns whilst paying dogshit wages in the UK.
Spot on
Then crying to the media about how "NoBodY wAnTs to wOrk aNy MoRe!!1!" In reality, nobody wants to be exploited any more by greedy and entitled employers!
You could get the same job in a different country for way more pay
@@hazelcrisp If you can get a work permit, and frankly, any company in the EU would want to be pretty desperate to offer a Brit a job after the way you have behaved
@prophetsnake lol what are you talking about
Zero hours contracts are evil. Many developed countries banned them already
They should be illegal but never will be under the Tories, the party of worker exploitation.
Purely, some companies do cheat paychecks and give yearly holiday refusal, I had to leave a job because of that
The UK is no longer a developed country.
Yep, but the UK has rapidly devolved away from being a developed country.
The command of Ukraine exaggerates the losses of the occupying Russian troops in order to mislead Western partners, creating the illusion of controlling the situation. This is an illusion of peace for the west, with which the west is satisfied. Without satellite-corrected point strikes on the locations of Russian troops, there will be no victory for the Western countries.The gradual capture of new territories strengthens the idea of "Great Russia" in the hearts of Russians. The idea of "great Russia" will forever supplant the idea of the truth of Western values of tolerance and new technologies.
News flash people used to work for the bare essentials in life like a home, utilities and food. If you take away their ability to pay for those three things then productivity will drop and so will the economy. People want to buy a nice house, people want to be able to afford kids but since they can’t what’s the point in doing anything? We’re witnessing the collapse of capitalism and it’s the making of the rich and powerful being too greedy!
Exactly I'm 45 now and couldn't have children I have only100thousand pounds on a bank and still working saving more. I look at my life and see where's the point I'm going to die eventually and I'm just working for what? Meanwhile I have to rent and won't have a child without giving them a safe place they can call home.
@@ch0293 That sucks. I know plenty of people in similar boat they're basically losers like you and perhaps me too pretty soon. What's the point of the grind if you can't even have a family of your own? No home, wife or kids, it sure sounds pathetic, but it's the life of billions and more to come.
@@hendrikheim5665 fortunately I have my wife, but on our age and because we wouldn't be able to afford a mortgage we don't want to grow a child on this environment and not be able to provide at least a house for their safety and neither we want to struggle too. We have poorly paid jobs
@@ch0293Indeed there are many roadblocks out there. But like I said, there are many in this very situation and before you know it, we're old and shriveled up and eventually our genes die out with nothing left behind. Had an employee in her 50s and she didnt have much of anything either, it really is sad to see that, but in the end everyone has their own situation and might end up as winners or losers.
@@hendrikheim5665 honestly that idea of winners and losers are just inside people's heads, if you see everytime you are allowed to breathe and have your own space even if it's just a simple small one you're fortunate enough to live. Whenever we see and compare someone's life to ours we end up doing mistakes of non acceptance of our own fate, things may change for good or bad anytime even to the very rich and most fortunate people as everything is everchanging. But, yes for not being able to grow a child is no shame to me as doing one actually it's very easy, the countless times I've seen and witness child poverty is a very serious matter most of us with basic education must see it, the painful road a child may lead just to survive on this world. Well prepared parents will give children on this competitive world enough to have an easy life while others might suffer terribly for the future. During the seventies and eighties things were still much easy compared to today's world, the competitiveness just end up creating a world of tremendous indifferences and inequalities, where I believe just got more dangerous.
Can somebody please explain to me why we are still pretending wages had anything to do with the current rates of inflation? Wages were stagnant or falling in real terms and still are, literally said it in the report, up, but still below inflation as it has been for decades, just more drastically now. Not hearing much about corporate and energy profiteering or CEO/shareholder pay in regards to inflation, what gives? It is always the workers who have to pay and that "conventional wisdom" is hardly ever challenged.
Easier to blame the bottom of the pile than the top when the media is own by so few who are mates with the gits who step on the top top said pile
Because the media is controlled by the profiteers, they will never be in the side of workers.
@Barry you have been listening to the Thatcherites again from the sounds of it? Sounds like you have been voting for low wages, then blaming immigrants for the results of that, then claim it is the left not paying attention. Rather than the greed by a few at the top and the policy failures they have persued, you want to blame others either fleeing wars we started/fueled or just going about normal economic activity. If the actual left was in power, you'd be getting a fairer wage without any need to scapegoat migrants. 🤦🏿♂️
Good news, we are better off than we thought. If this keeps up we can turn the heating on.
Not with what we're getting paid!!
LOL 😂
@@blurtam188 how much are you paid a month?
Imagine living in the UK and being so poor you can't turn on your heating. WOW! I think you're the problem mate not the country. Everyone crying over job wages... leave the job and get another if you can't then that just means you're not worth more wage. All these people crying done nothing with their lives just sat struggling then crying when things got a little harder. Yet the have phones cars ect on monthly payment. it's easy study/learn become an employee that is valued and they will pay you to stay. But you all sit there expecting the goverment to fix things for you.
Forcing pension aged people to work to get the g9verment out of debt they have done their part. Zero hour contracts should not be allowed what are the benefits to it?
pension age is not 50 - 64 y/o.
They have done their part voting for Brexit. They deserve to be put back to work
LOL
Zero hours contracts are only beneficial if it's as a second job, other than that they don't pay enough.
Being laid off during the pandemic has left people bitter in how they were treated affecting mentally and emotionally and now resisting to go back to that environment
@left_blank and employees owe nothing to employers. Loyalty is a two way street.
@@unknown_name_389 and most have decided their time is spent better not doing that job
Living proof of being thrown under that bus
I enjoy the fact that my former employers are still struggling to get staff after they used to pandemic to do a fire and rehire, cutting pay by a third.
@left_blank The employees don't don't the employers anything, act your wage, never go above and beyond and never give your 2 weeks notice unless contractually required.
Shell-shocked financial backers have a lot to think about and losses to recover from after a terrible 2022. An expansion report and a wealth of other data did little to alter assumptions that the Central bank would likely keep raising interest rates regardless of whether the economy slows down, which implies that portfolios will experience more losses in the first quarter of 2023. I'm currently at a crossroads deciding whether to exchange my $250k security/stock portfolio; how might the continuous market volatility work to my advantage?
@Lloyd Bernard In reality, I've been in regular contact with financial examiners ever since Coronavirus. Buying moving stocks is now quite simple; the key is knowing when to purchase and sell. My attorney issues the section and leave orders for my portfolio. accumulated from an initial stagnant savings of $150,000 more than $550,000.
@@roseroland1998 That is amazing! Since my portfolio has greatly deteriorated, I could really use this advisor's expertise. If you could suggest a reputable investing advisor, I would be grateful.
@@anthonyrussell5718 She is ''KAITLIN ROSE STERNBERG'', my consultant. Since then, she has devoted section and leave attention to safeguards that I have been keeping an eye out for. You can locate information about the chief online, on the off chance that you're interested. I made no regrets about substantially adhering to their exchange strategy.
@@roseroland1998 Insightful... Thanks to your sharing, I was inquisitive and looked up her name on the internet. I discovered her website.
So it's still yet another pay cut for those lucky enough to get any pay rise at all. I've got to admit this cost of tory crisis is wearing thin.
English peasants know their place tho (deliberate wind up to try and get someone working class to stop voting for them), tories could easily win the next election too.
The UK can't afford the Tories any more!
I can't think of a year when me or my friends have gotten wage increases that match inflation. Year after year, the working classes take back-to-back real terms paycuts. Negatively compounding.
you know... you cannot beat inflation by giving everyone an inflation busting pay rise.. right? it just would make the costs go up again... ; it has to be beaten with fiscal measures... not pay rises... demanding inflation busting pay is like demanding a pilot pulls up to climb when the plane is in a stall because it doesnt have enough airspeed... as prev commenter said... get training... change careers.. its the best route to a payrise if you need it.. in fact, this is the very best time to do it!
@@joecater894 when did the simps organise a meeting?
This country is a disaster, due to bad decisions from clown leadership and brown nosing the US
@@joecater894 the economy doesn’t work like that at all😂 billionaires are hoarding all of the money and refuse to earn less of a cheque therefore they refuse to increase wages whilst increasing the prices of everything at the same time. If that was the case then poorer countries would all be starving or dead.
@left_blank People are changing jobs, in their thousands, or retiring. That's why we have a recruitment crisis in the NHS
If you can't get any workers, stop paying minimum wage and expecting 6000 years of experience and tonnes of responsibility
Loool this means that more people had a pay cut 😂, their money doesn't go as far as it did yesterday..what's not clicking?
If it doesn't keep up with inflation it is NOT a rise.
This is a gross misunderstanding of how anything works, stfu
Now private sector wages are rising above 7% on average. So wage rises of 7% in the public sector would have absolutely NO impact on inflation, and no impact upon the private sector. Give the nurses and teachers a pay rise!
it would have an impact on inflation because millions work in the public sector so it would have a big impact. morally i agree they deserve a payrise but unfortunately economics is brutal.
Basically the Government view is that any extra wage wouldn't be worth to spend / invest in human capital. Private sector is facing a tight labor pool so they must compete on market rate.. NHS got no other competitors but nurses are switching to greener grass..
@@Nika_314 The strikes have costed more than the pay rises.
They wanted more than 7%
@Barry tight labor because more people only stick with working from home. In US 1.5 million of the lower wage employees have left big cities. More managers even approach hiring directly like asking "do you need job" right on the spot if you look obviously available
Public sector getting screwed over
I want my taxes to rise to fund the public sector, said no one ever
@@Goady1000 tax evasion is rampant among the mega rich.
@@cdean2789look into birth certificate fraud :)
I'm a Paramedic and I see a lot of people like vox person one with COPD. You can hear how ruined her lungs are when she laughs. You get that from smoking 40 ciggies a day for several decades.
And any professional paramedic would know its very unprofessional to make that statement without seeing the individual face to face.
Pay people more. The amount of private care companies, clothing and technology companies etc. who pay minimum wage or a few pence over who should pay more, would sort out a lot of the mess. No they couldn’t possibly do that. Having a second job punishes you with 20% income tax, as if that second job is paying for luxuries for you, which isn’t the case. This should be scrapped to encourage people to take on more work.
TF are you on about?
@@user-im9zp4yp9x What 8 other people have agreed with. Companies should pay people more, they constantly line their pockets and it’s easy to find out by how much in pure excess. If they paid people more then the cost of living crisis wouldn’t be so bad in the first place.
@@Tx432 I was acutally refering to the fact that you have no clue how taxes work.
@@user-im9zp4yp9x I have a second job, so yes I do. I get no personal allowance on the second job, because it all goes to my first job as I earn more than the 12.5k threshold on the first one. On second job 20% of all my earnings are taken in income tax, and I have to pay NI as well. So on my second job I only take between 73 and 77% of the gross figure. Believe me I’ve tried to see if there’s another way, there really isn’t. I don’t know if you’re thinking of the US system and not UK. Second jobs you won’t get any personal allowance and you will be on BR basic rate tax code, which is 20% straightaway and then plus national insurance as well.
@@Tx432 It's called Personal Allowance, not "Job Allowance" and it covers more than just salaried income. If your gross is 40k you will pay exactly the same amount of total tax regardless if you have 1 or 5 jobs. What's unfair about this? Think about how silly the system would be if it worked the way you expect it to - Everyone would be better off with 5 part time gigs paying 10k each (with no tax on it) rather than single job paying 50k. That's just silly. Now READ IT AGAIN and wait... what's that? Sounds like your idea is PUNISHING the person with a single decently paying job? How ironic
To obtain financial freedom one needs to be a busses owner, an investor or both, generating passive income, particularly on a monthly basis.
l agree with you and believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don't know who agrees with me but either way I recommend real estate or crypto and stocks.
Yeah!! It would be more beneficial and yield more profit if you actually trade on cryptocurrency, I've been trading since the dip, I've made so much profit trading.
I am interested to know more and invest in Crypto please 🙏
@@bhurtel371 Its not advisable you trade with your IQ, Well I recommend MRS AVA KIMBERLY! She's the people best teacher and also my mentor.
I think trading is easier with proper guidance, especially from a professional, it really help reduce the chances of running into losses. All thanks to expert Mrs Ava Kimberly, she changed my life, I was able to pay off my mortgage.
Just had a lovely Fish and chips. Was £300 if anyone's curious.
What a bargain!
Exactly.
did that include the price of the salt and vinegar?
what is a fish ?
@@edwardbernthal160 Now Britain can't import salt, I had to use the local armpit service.
Labor is one of the components necessary to operate a succesful business. If a business is unable, or unwilling, to pay high enough wages to attract the labor required to operate the business, then it should cease to exist.
They just use the tax payer to subsidiseb low wages, through tax credits.
I'll just continue importing from india, china and indonesia. Thanks.
Brexit doesn't help
@left_blank simp more? your tongue must stink now
@left_blank UK govt spends twice as much on pensions than on welfare benefits. If you want to save money, cut pensions. No politician will do that because it's political suicide: pensioners vote.
In what sector are they rising? I'm still seeing London listings marked at £9ph on indeed, which isn't even minimum wage nowadays!
Its been supressed for too long. Canada and Australia has better pay but UK is richer. What's going on?
12 years of Tory rule is what's going on.
That's why Australia has so many UK nurses & doctors.
rich country does not mean rich people. the UK economic system still operates on serfdom
Not richer. Having a few with a lot doesn't make the whole country richer.
all of europe has better wage growth. blame our almost continuous tory govs
But houses and rent are like 3 times higher than before
u right
But they said it was not a real terms rise?
Do bosses want older people? They usually want younger people.
they want whoever is cheapest
They want anyone they can get for as little as they can pay them. Older people are desirable now because financial pressures are forcing them back on the job market. As an employer you can exploit them and low ball them for a few years of work before they die since you have a lot of leverage due to their desperation. You know, drain some productivity out of them before their last leg collapses. Not to worry though, it's all for the greater good of glorious Britannia. Won't someone PLEASE think of the rich business owners!!! There kinda sorta like people too right?
Young ppl want higher wages. Old ppl want free time and larger pensions. Country cannot deal w/ a spoiled workforce.
Those not smart enough to negotiate a wage.
@@axeblue sacrifice yourself for the country if you wana be a mug. Boris Johnson or our fat MP's won't. Needs to be a point to working. People don't do it for a laugh. They know where every loose penny is. They have never had more control. Capitalism depends on paying people what they are worth. If poor people have no money the ecconomy stops and businesses close. Poor spend money. The rich sit on it. All the wrong people are in control of the money.
What was this “expected”? They were expecting us to just take the L and get poor then?
Government get the same pay rise 2.9% but if you’re on £85k it’s a bit more than if you’re on £25k. They need to not take a pay rise for the next few years. After all they get expenses when needed for work.
Paying a decent wages and have respect to your workers might help get them back.
you get a descent wage! my GOD
on this country we are facing absolutely disgusting housing laws and absolutely inhuman where the people are treating like slaves
4% rise in council rents which results in 0 actual gains in rising wages. 🤣
plus the 5% coming rise in council taxes.
8% if your council up by max and have social care like mine. I love Torbay council
You spend 100% of your take home on council rent or your math skills are s*it?
@P not very bright are you? Rising wages and Rising council rent's equals 0 gains in rising wages. 👍
@@chadimirputin2282 please explain how 👌 Lady bright
'We want to make work worth your while' versus 'no raise for you' from the same government, sounds like a contradiction to me
I'm sure we'll get Pizza parties or something.
Not many of us work in a job we like never mind love. The more we are just treated as numbers, productivity and stats, the more will want to get out. An example of this is how Amazon treats its workers or call centres 1st world factories. Yes, better wages would help but still would feel shite. But a solution would be better hours (4-day weeks, maybe) and being treated as adults not just numbers
Its not resistant enough. 11 pound would do they expect you to do with that?should be £18
Ever thought that employers might actually be too fussy? My 19 year old applied for a job in a restraunt and they knocked him back because they wanted someone with a minimum of 7 years experience. The job was in Merseyside on Indeed. Also apprentiships are justified slavery. My 16 year old worked 40 hours a week for £144 a week. The UK is a greedy country.
welll said - i went there for my masters studies and decided not to stay. Its like you surviving like a living paycheck to paycheck.
Why does no one talk about the poor terms of employment? No qualified training, 16 hours being treated as full time, 30 hours so you can't get a lunch, 0 hour contracts, people payed so badly for decades they need to work on benefits, I don't blame anyone from ditching work and I work, but I'd leave if I could
They literally mentioned this more than once
You covered Private wage increases - is this not a problem as people in Public sector might move - leaving Public servuces under staffed?
it's already understaffed in Texas
The only people who apply for zero-hours contracts are those who would rather that than be unemployed
that woman who says she waiting for her kids to take care of her you absolute legend love ya to bits
Ok Boomer! Only the boomer generation would expect their children to take care of them until they pop off by which point there shan't be anything they have not destroyed for them to have a future from.
I feel for younger people they get screwed left and right
@Barry Marx wrote little 175 years ago. Capital volume 1 was written later, if that is what you are referring to. Marx wrote about industrialisation, which meant first migration of rural migrants to the city, transforming Manchester into the cotton polis. I doubt you have read capital vol 1, 2 or 3. Why do you even cite Marx?
as they always have been, nothing new there. But you are right, the screwdrivers have never been this powerful.
And we are screwing up the planet for them.
@@cdean2789 they are also screwing the planet.
@Barry yes, exactly, you are not wrong, but that is much later. In that letter he praises "Irish proletarians" and "English proletarians". The antagonism he blames on the press and the bourgeoisie. Nothing changed since then. He commented on that much earlier, btw. He first visited Manchester in 1845. Better is the description of Engels' Condition of the Working Classes.
Am I missing something? Where are these pay rises?
Media lies so that they can fool investors that UK is back on business. No such thing as pay rises and if there are, maybe on some niche industries.
London.
The missing tool is: a crack pipe
HGV drivers on average getting 13% this year, this is after 25% average rise in 2022.
Not really.. the bottom salaries rise but the the barrier still at 50k a year... everyone else not LTD below 50k will remain at 50k.
Why are people forgetting or ignoring the £70bn cost of furlough and how it caused inflation?
Because we're not in America and somehow their news is less propaganda lol
imagine if you just hadn't wet the bed about a sudden small dip in profits, and had simply just locked down on day 1, instead of fighting the inevitable.
Because thats not whats happened at all
@@Goady1000 the UK is the most Chinese influenced western nation. Are you surprised communism is on its way?
Anyone got pay rise? Or I'm the only one left behind 😂
You need to secure another offer first. My friend did this and got an extra 15k a year to stay.
No public sector gets screwed. Nurses, teachers, etc. they don't matter, the Tories and channel 4 say
Politicians, bankers and CEOs only.
Still waiting lol credit cards are getting heavy.
Got a pay rise of 4% last year and 4% this year working in a hotel. When I worked in retail we were lucky if we got a pay rise of 1 or 2% and that was only because I was in a Union.
So you really mean peoples wages not being cut as much as expected
That was HILARIOUS. Xiaowei Xu, at 1:50, came on the video to provide a little additional detail about the wage comparison ....and I had to LAUGH. She is in the FEMALE DEMOGRAPHIC OF 25 TO 35 YEARS OLD. This female age group, when they were younger, got into a TRENDY FAD of creating their own way/style of talking. Apart from using their TRENDY FILLER WORDS: "like", "I mean", "yaknow" (which is now mainstream), "right?", ...they purposefully talk funny at the end of every sentence ...dropping their voice ...lowering their voice ...to the point you can't even understand what the words are. They did this when they were young ...copy-catting each other ...because that's what kids do .....and they now can't talk any other way. They STILL talk like this even now that they are in their 30's. There is a BNN News talk show anchor in North America. Her name is Jacqueline Hansen. She talks very similarly ....like a child. I have no idea why anyone in management would hire someone with so poor English skills. She is the Queen of the use of the slang phrase/filler "yaknow" when she interviews people. When talking, within every 10 or 12 words, she uses "yaknow". If she was really good at what she does, then I can see hiring her, but she's not. Maybe "daddy" or "mommy" is someone important. .
Short version...let's cut to the chase: "UK Wages don't keep up with Inflation!" If in doubt ask the strikers. Nuff said. P.S. "Great Expectations do not fill an empty stomach!" Feel free to quote me on this.
Maybe we should clap
@@cdean2789 : In your case a "dose of the clap" will suffice. The situation is grim and can do without your mental farts!
@@Keithlfpieterse sarcasm goes straight over American heads
@@cdean2789 : Nah not "straight over..." It passes right through - from ear to ear. Simple explanation: A VACUUM between the ears! Hahaha!
@@Keithlfpieterse the Tories got us to clap for Nurses during Covid but now that they want a living wage the Tories slap them. 12 years of Tory rule has destroyed my country
Bring back job security zero hour positions are not really good
@@barry3012 your funny mate if that’s what you think
@@williama-d6there is no job security because company’s are surviving day to day.
@@barry3012 I’m talking about working class people. Shop fitters,factory workers,plumbers,electricians, Steele construction, fabricated welding. You know the backbone of any decent country. These are the people who suffer
@@barry3012 there is no such thing as job security these days. Everyone I know is a tradesman or factory worker. My brother fits furniture in new restaurants, or refurbs old ones. Yes he earns good money but that’s because he works 60+ hours a week. Everyone I know works 40-50 hours just to get by. The cost of living is so high now people have to work this many hours even on £15-£25 a hour, and there’s no guarantee this will last. People are finding it hard to get materials. it’s been like that for years in the steel industry as the uk sold all there steel to China. My brothers boss is already talking about a cash flow problem so are alot of others. It’s getting worse day by day. CBDCs will kill off what’s left of these company’s
taxed far to much in this country
@@barry3012 Barry, the cost in every part of life in Britain is putting a strain on everyone, not called rip off Britain for nothing lol its a constant rat race.
The average person is taxed too much, the very wealthy who own over 90% of the wealth are under taxed!
The rich don't pay tax.
@@daftdigital true
The rich pay high tax on income but other things are taxed not as high and that is when they make the real money
In the 80s there were huge pay rises because there was huge inflation. Wages rarely lead on inflation in my experience. Torsten's right about lack of investment.
Inflation will always rise faster than wages in the long run in some sectors and in other sectors pay will outpace inflation rapidly. We don't have a lack of investment, the problem is that artificially low interest rates cause asset price inflation meaning any company needs to produce greater years output before they see a return and expansion is slowed by that, reducing supply because the effectiveness of investments has evaporated. Now we have inflation in goods the price between asset price and output is shrinking, making faster expansion possible, but interest rates need to be higher.
But companies are sacking people at the same time or at zero contracts 😅
What pay rise? Not me or anyone else in my company
Fight for it.
This is why many people change the company they work for every couple of years. Sometimes it's the only way to get a pay rise.
Your kids aren’t there to look after you. Get a better plan.
Zero hour contract jobs are garbage, Slavery. There is no job stability or employment benefits. They are perfect for greedy wall Street tycoons who take over organisations like boots etc. There is no responsibility for the worker whilst at the same time wall street is able to maximize profits for shareholders increasing the value of the company which will be then sold on to another wall Street shark for a HUGE profit. I can't believe 1.4 million UK workers are on this type of contact it's so sad. This is a G7 country. No holiday pay, sick pay or health benefits and you can be told not to come in or dismissed without warning. A job role split between multiple people. No one is happy working in these organizations.
Yes
UK worse wage if you compare USA and Australia. Construction industry - Labour in Australia got 40 dollars per hour when you convert mean 21 pounds per hour, labour in UK 13 pounds hour totally shame !
Who's wages?
Its also hard to move and hard to reskill.
Becuase? Too lazy to learn?
@@user-im9zp4yp9x Moving is a hastle always is. In adition you may need a large deposit even to move into a new rented place. The deposit will be higher in comparison to what you can get if you are moving to a prosperous job rich region. There may also be no support stuctures where you are moving to, your children may be integrated into school, your spouce may have employment where you already live that cant be replicated where you are lookning for a job. There's a whole host or reasons that moving to jobs is not trivial. Mabey you dont even hear of the new opertunity. Reskilling also has its issues. You may have dependants that rely on you not to take a pay decrease to reskill and possibly jump industies to a lower grade and/or depend on you to give your non-contracted hours to them so can't spend many hours reskilling. For many skills, formal training is needed, where I live you basically get your first degree paid for but after that you pay for it and perhaps you can't take on that cost. Mabey youre at a point in life where the time investment to learn new skills and then make a new carrere will see you die of old age before its fiantially better for you. Mabey you cant face the emotional idea of failure and regression that some people feel when they think about giveing up a careere to start a new one. For many people the idea or reskilling is alien and/or not something they belive they can do (even if they can), sometimes because of personal reasons and sometimes because "people like them" or people "where I come from" dont do that. P, don't take this the wrong way but if you think that the world is a meritocracy by nature and that effort is all you need then you've been thinking far to little about it or been very lucky you or someone you know have not come across copious examples of obsticles to jobs. Wheter or not I am someone who is or has done on of these two things doenst matter, your agro is childish and besides, my point is different: Some politicians, economists and comentators asume that people will just slot into jobs that are available regardless of where they are or what the skills that are needed are, and they base their political stance with that assumption in mind. But its wrong, popuations are sticky, economic activity is sticky. Oh and P, dinny be a tube.
"Off the golf course" Absolutely fuckign clueless
Who's having a pay rise? I got nothing this year and neither did almost anyone I know
I moved to Australia and it doesn't even come up as a discussion... Not great when older because there's a larger barrier to switching jobs.
I did. If you're not getting a pay rise, you're being ripped off by your employer and should start looking for a better paying job! There are plenty hiring. Moving every couple of years is the only way to keep up with inflation these days.
The bosses
@@allip4226 works till you're 50. After than the person who has 20y inside knowledge at the company has an advantage over the old dude they're interviewing.
PM and MPs
As an over 50 I'm having difficulty finding a job I have over 30 years in Hgv transport national/International transport yes I can get employment but I'm not going to work for firms who pay a little above minimum wage and have low to non existant standards driving hgv is an incredibly responsible job that deserves to be very well paid
Yes, they need to pay the transport workers much better.
smirnoff
I love this as people will only apply of the wages make sense. This will be the only way these companies will have to raise their wages.
Lets face it many people in their 50s are not computer literate enough to find employment , we grew up in an age before computers were widely available . Employers demand this as a basic skill but aren't interested in spending the money that it would cost to help us train tp meet those needs.
Speak for tourself talk about generalise
Lazy and spiteful. Brexit proved that. You've bought our council housing stock, inflated house prices and now you want early retirement?! Watch your back 🎯
It's just ageism in general.. you can easily skill up in Excel and tech if you put your mind to it.
Computers have been around for decades. The problems were down to our education system policy makers and teachers dismissing them as a fad in the 70s and 80s.
this govt have cut back on training programmes in FE colleges, so there are fewer opportunitiues to learn new skills. The conservatives are reaping what they have sown now after years of cuts.
But sadly it's not enough as inflation has taken it away from those who get any raise
Uk is one of the richest countries in the world... Too bad its people are poor... Let that sink in..
What's the average salary in the UK? What do you call a decent pay? Thanks
depends were you are a decent wage in wales i would say is 30k maybe 35k in some parts of england i’d say a decent wage is 50k or 60k a year.
I would call a decent pay, an amount that would not mean a worker having the need to go to a food bank, in whichever country they are working in.
40-50k
One can provide oneself with a nutritious meal for just 30p, I hear.
£35,000 plus definitely anything lower than that is just not worth it for me
great video
High wages also related to tax policies adjustments otherwise some workforce would be locked
speak up because I have your CASH
Good news then...presumably it means the bank of England won't feel the need to too tone down or worse yet reduce interest rates.
I hope they go up to 10%
Yup
With All the Companies Folding under economic stress, Where exactly are these Jobs? What are these Jobs? & how much wages are they paying to keep up with inflation. Zero hour contracts is Slave labour and the cause of the crisis. I am 60yrs with Brain Tumour and cant manage on ESA but would want a Contract before ever thinking of employment. Its to much of a nightmare that the civil servants who dish it out couldn't live on it and if so then levelling up means governing bodies too.
my grandfather was due for retirement last year - and he was always going to stay on a couple years longer simply to hit a 50 year career at his company, but because of the lockdowns, he retired a year early 🤷🏻♂️
55+ and stuck in NS retail work fir a major oil firm on minimum wage 🤬
Stay strong compadre
Take solace in the fact that you aren't one of those well to do scumbags though. The world needs salt of the earth folk more than we do "successful" kuntz. We have enough of them sick fkrs.
@@samgrainger1554 but fr £4.81 is the minimum wage for 16-17 how are we meant to survive on that I don’t understand it.
@@Deletedpermenantly wasn't saying the system isn't broken. If it beats us down do we cow down?
@@Deletedpermenantly You aren't. You're supposed to live under your parents roof for free whilst the companies profit off your inability to be an independant adult..
My wage hasn't increased, so who are they talking about???
What the gentleman at 3:00 said. The Government needs these people to do unpaid voluntary work since they've crushed the NHS and social care system.
That has actually been happening in the NHS for years. Ask many hospital Docs or nurses how they stay beyond contracted hours for no pay, hundreds upon thousands of underpaid hours.
All these stats are rubbish
Lol true 😂
it's time to become a bit more self sufficient. Rethink an economy less globalised and making people loving the products and artisans of their country. Making those luxurious products that other countries will pay for. Lots of investment in AI which is good but come on, trying to get ahead of China, Russia and India while the country is seriously lacking of money is ludicrous. Labour wants the UK to be pioneer on green energies: big YES! conservatives wanting to make import export deals with countries who are not interested because of UK's actual size due to BREXIT. big NO! The issue is that UK politicians and economists think like before BREXIT instead of thinking like after BREXIT.
It’s all about digital currency and it’s implementation.
What a shocker people work all their lifes and pandemic helped them get a perspective on life and family. Uk have the highest retirement age claiming we live longer , maybe we do but those on the bottom can't afford the same private care as those on the top. So what kind of life is that! They deserve to have happy and easy retirement, dont get me stratet on pensions provided for eldery, complete sham! UK want to forced people to work till their last days 😢
0 hour contracts 0 sick pay 0 training 0 18x wage house prices - 150% inflation yeah lets go work for nothing - many companys fussy about skill set, be bothered then to train people. People that want to work are out there that can master a job within a few weeks.
Please give me crumbs
Together with some trickle down
Why channel 4 news journalists are so determined to see the negative side of things ? They are not trying to be objective.....
Jeremy hunt cant even look at the camera with a straight face
He was stammering 😅😅😅😅😅
Oh yeah, mine hasn't. Who told you this, bojo?
Keep wages the same lower the tax 🤷♂️
Yeah you kinda reversed the headline there
only 'learnt about zero hour contract' recently?? It's been going on for years and years. Massive lack of insight.
Who be getting these pay rises?
not me - im private - And those Issa Brothers LOVE to hide everything - Im holding out for redundancy
Exactly
7.3% wage growth Vs more than 10% inflation. But it's wages driving inflation... riiiiiiigggght, sure.
TAMPOCO VAN A TRANSMITIR LAS EJECUCIONES?.
People who were furloughed have taken the lazy option and don't want to work anymore, that's the problems.
Lazyness is merely a lack of motivation. When people grew up in the 70's, a man going to work could buy a home, a car, get a decent pension scheme, and provide for their family. Nowadays, you can get an engineering degree in an attempt to have a half-decent life and 50% of your salary goes to pay council tax & rent on a 1-bed flat to pay for a boomers quarterly cruise and social care. If you are lucky you can save £200 a month, and after 10 years and you might end up with enough to buy a 3-bed semi on a 35 year mortgage if you are fortunate enough to find a partner in the same financial position as you. I'm just kidding - house prices will have risen by more than what they saved anyway. Such is the reality of being a small cohort. When boomers were young, they were the majority and economic policy was shaped by their desires. Now they are older, they're still shaping it for their desires - and as a result, the young are not afforded the same the opportunities their parents and grandparents were. If you want people to be motivated to work then the country needs to sell workers a life where doing so is meaningful. But I presume you are elderly and have zero understanding or appreciation of how hopeless the future looks for todays young workers.
Wages of MPs right? Ofcourse
They've had a real terms cut this year m8
So haven’t gone up …
Some should tell the Tories what the writing on the cheap seats says..... "UK PLC - Do not resuscitate"
Speak up, unfair wages
Wages growing... hands up if you've had a payrise in line with inflation... cause if you haven't then you've actually taken a paycut.
More like attitudes towards pay raise gave the green light to inflation. Stupidity, crossed with deception, expecting the influx, not inflation, in money would land in ppl's pockets.
Consider public sector workers in this scenario. Their salaries are essentially fixed because they have single employer.