Megatrends: have we seen the end of the pay rise?

Cover image
Document type
Report
Corporate author(s)
Chartered Institute of Personnel and Development
Publisher
Chartered Institute of Personnel and Development
Date of publication
1 February 2014
Subject(s)
Trends: economic, social and technology trends affecting business
Collection
Business and management
Material type
Reports

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The report tackles one of the ‘facts of working life’ in the UK, namely the long-term trend for pay to rise faster than prices. Since 2009, this trend has come to a halt.

Depending on the measure of inflation used, average regular weekly earnings (excluding bonuses) are now between 8% and 10.4% lower in real terms than in January 2009. This has not happened before for at least half a century and quite probably much longer.

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