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From The Socialist newspaper, 2 July 2008

91% of pay deals are below inflation

'PAY SPECIALISTS' Industrial Relations Service (IRS) have reported that only around 9% of all pay deals agreed between bosses and workers in the three months to May 2008 were settled above the cost of living rise as monitored by the Retail Price Index (RPI). A massive 91% were getting pay deals that did not keep up with the cost of living!

The RPI is a more accurate measure of price inflation than the official Consumer Price Index - it includes some housing costs and is less weighted towards more 'luxury' consumer goods.

IRS come to the conclusion that "employers have gained the upper hand in pay negotiations" as below-inflation pay deals "are a reality for the majority of workers."

Such statistics from 'experts' largely confirm our feelings; they probably won't surprise many workers.

Every workplace has its own 'pay specialists' ie workers who get a monthly or weekly wage slip and notice that prices are rising far faster than their wages.

The employers are putting the squeeze on workers' pay to cut costs and maintain profits. Workers have been forced into pay battles just to try to keep up with inflation.

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In The Socialist 2 July 2008:

Hands off our NHS!

Feature: 60 years of the NHS


Socialist Party campaigns

Local government strike action: Workers say: 'enough is enough!'

Fight Labour's welfare privatisation

91% of pay deals are below inflation

Workers united against pay freeze


Socialist Party news and analysis

Education - class segregation grows

Boris Johnson reveals his real policies

Royals down to their last crown?

Union support for demo to stop BNP 'festival'


National Shop Stewards Network

National Shop Stewards Network: Rebuilding trade union strength


Campaign for a New Workers Party

Campaign for a New Workers' Party


Obituary

Obituary: Terry Fields


Socialist Party LGBT

LGBT London Pride: No to homophobia


International socialist news and analysis

Mugabe clique tightens its grip on Zimbabwe

Big oil returns to Iraq

Poland: Thousands join 'hands off the Labour Code' demo


Socialist Party workplace news

PCS shows action gets results

Visteon workers win 5%

For a fighting, democratic Usdaw

Tube cleaners in pay strike

Victory for Belfast Airport shop stewards

East London street cleaners fight privatised employer


 

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