Ed Miliband promises minimum wage rise should Labour win next general election September 21, 2014 Ed Miliband has promised an increase in the national minimum wage to £8 per hour should his party win at the next general election. The Labour leader has said it is "not good enough" that one in five people in the UK "are in low pay". Ahead of the Labour party conference in Manchester this week, [...]
Wages increase hoped to lure England stars home September 17, 2014 PREMIERSHIP rugby chiefs hope a rise in team’s salary caps by £500,000 per season can end the exodus of English players to foreign climes. Potential England stars such as Steffon Armitage and Toby Flood are currently plying their trade in France and are consequently not eligible to play for the national team under its own [...]
How high is UK unemployment in your area? September 17, 2014 The UK unemployment rate came in at 6.2 per cent today, but how well are different regions doing? There is a great disparity between the top and bottom performers. From the ONS report: For the period April 2013 to March 2014, the local authority with the highest unemployment rate in Great Britain was Hartlepool at [...]
Wages increase by 0.6 per cent, 0.9 per cent behind inflation September 17, 2014 The gap between wages and consumer price inflation is still stubbornly wide, official figures published this morning showed. Earnings not including bonuses were up 0.7 per cent over the 12 months to the end of July, but inflation is almost a percentage point higher at 1.5 (1.6 during July). Unemployment data was also out this [...]
UK unemployment falls to 6.2 per cent – its lowest since 2008 September 17, 2014 The UK's headline unemployment rate fell to 6.2 per cent in the three months to the end of July – its lowest level since 2008. The figure was roughly in line with expectations, having fallen steadily as the economy recovers, although wages are yet to catch up. There are still 2 million unemployed and 30.6 [...]
UK employment rises by second fastest rate in the EU (after Hungary) September 12, 2014 The United Kingdom enjoyed the EU's second largest rise in employment in the 12 months to July, with the annualised rate up 2.7 per cent (seasonally adjusted). Only Hungary – at 3.1 per cent year on year – saw a faster rise. Eurostat released figures for employment rates across the European Union today, showing second [...]
Carney: Low wages have brought surge in new jobs September 9, 2014 UNEMPLOYMENT has dived thanks to low wages, Bank of England governor Mark Carney said yesterday, arguing that poor pay growth had had some positive effects in the UK. But as joblessness has fallen rapidly, pay is likely to start rising at last as firms have to compete for staff once more. “Although the adjustment has [...]
Forget bonus caps: Why real executive pay reform must tackle short-termism September 9, 2014 EXECUTIVE pay is a high-profile topic which almost everyone has an opinion about, and many believe the entire system is broken. But despite being well-intentioned, many suggested reforms may not be targeting the elements of pay that are most critical for shareholder value and society. Much of the debate is on what I call a [...]
Mark Carney to discuss wages in speech at Trades Union Congress September 9, 2014 Mark Carney will discuss his plans for real wages in an address to the Trades Union Congress (TUC) later today. The prospect of an interest rate rise continues to shadow the governor, and members of the TUC are expected to tell Carney to reject a hike until real wages show signs of strengthening. The Canadian [...]
EU bonus cap troubles: UK gave out the world’s biggest bonuses in 2013 September 8, 2014 UK banks could face with action from the European Commission if they attempt to sidestep the new EU bonus cap coming in this year. The new rule, which will apply to bonuses awarded from 2014 onwards, caps bankers' bonuses at a year's basic salary. If shareholders agree, this can be increased to double their [...]