ONS Shows Falling Pay Packets
Written by Geoff Newman on 02/08/2012
The Office for National Statistics (ONS) has shown that the average British worker has noticed a drop in their pay packet, having £3,640 less per year to spend. When compared to 2011, the first quarter of 2012 saw a 1% drop in take home pay after taxes, resulting in many people having less money to spend.
Revealing the concerning report, the ONS said that when inflation was also taken into account, the drop in income fell to levels not seen since 2003. For those in gainful employment this means that they are getting less income than ever and, with rising prices being noticed, people are even more financially worse off. This may mean that recruitment agencies will have to work overtime to find new prospects for those wanting new jobs as a way to increase their falling income.
General Secretary for Unite, Len McCluskey, said: “Ordinary men and women are working two jobs to get by but they and their families are being hammered twice – once by the bill for the bankers’ blowout and then again by cuts to services that sustain our communities.”
Despite falling incomes, recent reports in the media have shown that the number of job opportunities are rising, offering workers renewed hope that they will be able to find employment. At this time recruitment agencies will be vital for many individuals, offering a route to find better paying jobs so that their falls in income are compensated with new jobs and better pay packets.