Friday, 27 May 2011

No Pay Rise Expected Until 2015 For Millions

The economic recovery is unlikely to benefit ordinary workers, who could see their pay continue to flatline until 2015, a report has suggested.
According to the thinktank the Resolution Foundation, the living standards of the UK's 11 million workers on low and middle incomes were already faltering before the recession, and they may not improve even when the economy begins to grow steadily again.
It also hints that the "squeezed middle" are losing out, as the highest earners take the proceeds of limited growth.
James Plunkett, author of the report, said: "We all know that the recession has hit living standards hard.
But something deeper has changed in our economy - even during the so-called boom years, ordinary workers weren't seeing their living standards rise.
"The big question now is what will happen when growth resumes - will ordinary workers reap any of the benefits? This report suggests that is far from certain."
The group, which based its analysis on government projections, said average pay was set to be no higher in 2015 than it was in 2001.
It warned that the combined pressures of stagnating wages and high levels of personal debt would continue to have a huge impact on workers' living standards.
Steve McNamara, a London taxi driver, told Sky News he wasn't surprised by the claims that millions of families will continue to struggle.
He said: "All these reports tell us that the economy is getting better. But the actual reality is that inflation is very high, it's affecting everything we buy and wages aren't going up and it's not good news"
The Resolution Foundation has warned that the politicians must do more to appreciate the impact the financial troubles have had on millions of ordinary families.
It also stresses that the situation is likely to be made worse by government cuts to tax credits.

However as Kleeneze distributors if we want a pay rise we just have to put more books out, Simples!!
If you would like a pay rise why not come and join us, email us for information on how this business can work for you.

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