The Office of National Statistics (ONS) has released figures today which show earnings have risen below the rate of inflation for a fifth year running. We answer five questions on ONS’s latest figures.
For the financial year ending April 2013 what amount has pre-tax pay reached?
The ONS said pre-tax pay reached £27,000 a year, an increase of 2.1 per cent over 2012.
Inflation over the same period, as measured by the Consumer Prices Index (CPI), was 2.4 per cent.
This is in stark contrast to the ten years before 2008 when earnings increased faster than inflation, providing a real increase in living standards.
Was there any good news from the figures?
Yes, average weekly earnings in 2012/13 increased by the largest amount since 2008. The ONS said the median weekly income for full-time employees was £517, a rise of 2.2 per cent.
Part-time pay also rose by 3.1 per cent over the year, outpacing inflation.
What about the gender pay gap?
The gap between men’s and women’s earnings increased to 10 per cent, this is up from 9.5 per cent in 2012.
This is the first time men’s earnings have risen faster than women’s.
Which professions are doing best?
Farmers did best, with their pay increasing by 22 per cent, followed closely by undertakers whose earnings rose by 20 per cent.
What have the experts had to say about these latest figures?
“This year has seen a shock rise in the gender pay gap after years of slow, steady progress,” said Frances O’Grady, the general secretary of the TUC told the BBC.
“Ministers should be ashamed of presiding over this latest dismal record on pay.”
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