first_img whatsapp Pay at FTSE firms grows PAY PACKETS in the private sector are growing at a faster rate than those in the public sector for the first time since March 2009, said research out today. Workers in for-profit companies saw their take-home pay increase at an annual rate of 1.4 per cent in September. Pay rises are still lagging far behind inflation, which is pushing up the cost of consumer goods by 3.1 per cent a year. However, public sector workers fared even worse, with the average pay packet growing by an annual rate of 1.3 per cent last month, according to figures from 600 public bodies compiled by payment specialist VocaLink. Pay growth has improved slightly over the year, with pay hikes at FTSE 350 companies growing by an average of 0.9 per cent over the year to September, and public sector rises adding 1.6 per cent. Private companies have managed to bounce back more quickly from the slump in May and June this year, adding 0.9 percentage points to the average wage growth compared to 0.2 percentage points within public bodies. Douglas McWilliams, chief executive of the Centre for Economics and Business Reform said: “The sluggishness of annual earnings and pay growth is largely the result of slackness in the labour market. The latest data released by the Office for National Statistics has revealed that the claimant count measure of unemployment increased in August for the first time since January.”Marion King, chief executive officer at VocaLink, added: “With the emergency Budget of 22 June announcing a two-year public sector wage freeze for those earning above £21,000, private sector wage growth is likely to continue outstripping public sector wage growth from 2011 onwards.” whatsapp Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndocenter_img Wednesday 6 October 2010 7:39 pm KCS-content Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap Show Comments ▼ Tags: NULLlast_img