Tuesday, 20 July 2010

The Real Pay Cuts Begin – Average UK Earnings – July 2010 Update

My first chart today shows that as of April 2010 the non seasonally adjusted average earnings index (LNMM) year on year rising by 0.5% and the seasonally adjusted average earnings index (LNMQ) rising by 1.9%. This all sounds great until you look at the inflation figure also shown on the chart which in April 2010 was year on year increasing at 5.3% and today is still increasing at 5.0%.

So every month when you receive your pay from your employer (if you’re one of the lucky ones to have a job today you could look at the numbers which might show a small increase knowing that your months earnings will buy less today than they did last month.

MoneyWeek have also presented some good [sic] good news for workers this week also. The average salary in Britain today is £25,543 which is a fall of £2,664 in the last 6 months.

As always do your own research.

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