• Latest
  • Trending

COVID-19: Wage growth at highest level since 2008 as lowest-paid pay highest price | Business News

Gates Cambridge Scholarship celebrates 20th anniversary

Gates Cambridge Scholarship celebrates 20th anniversary

Israel-Gaza conflict rages as US envoy visits

Israel-Gaza conflict rages as US envoy visits

Police and Crime Commissioner to end funding for heroin addiction treatment scheme

Police and Crime Commissioner to end funding for heroin addiction treatment scheme

News Press Live
  • Home
  • News
    • All
    • Crime
    • Economy
    • News of England
    • News of Northern Ireland
    • News of Scotland
    • News of Wales
    Gates Cambridge Scholarship celebrates 20th anniversary

    Gates Cambridge Scholarship celebrates 20th anniversary

    Israel-Gaza conflict rages as US envoy visits

    Israel-Gaza conflict rages as US envoy visits

    Police and Crime Commissioner to end funding for heroin addiction treatment scheme

    Police and Crime Commissioner to end funding for heroin addiction treatment scheme

    Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk

    Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk

    Horse Racing Getting back on track

    Rochdale hopes machine centre will manufacture revival in fortunes

    The sad state of Cardiff city centre after a year of lockdown as shops lose fight to hold on

    The sad state of Cardiff city centre after a year of lockdown as shops lose fight to hold on

    Convoy drives through London shouting  the Jews, rape their daughters’

    Convoy drives through London shouting the Jews, rape their daughters’

    Conflict intensifies in Gaza as Israeli strikes destroy Gaza tower housing

    Trending Tags

      • Crime
      • Economy
      • News of England
      • News of Northern Ireland
      • News of Scotland
    • Royal Family
    • Tv & Showbiz
    • World News
    • JOBS
    • Sport
      • Football
      • Watch Live Score Football (Soccer) Videos
    • Login
    • Register
    • Latest Headlines
    • Advertise With Us
    • Find A Job
    Sunday, February 5, 2023
    Watch Live Sport
    • Home
    • News
      • All
      • Crime
      • Economy
      • News of England
      • News of Northern Ireland
      • News of Scotland
      • News of Wales
      Gates Cambridge Scholarship celebrates 20th anniversary

      Gates Cambridge Scholarship celebrates 20th anniversary

      Israel-Gaza conflict rages as US envoy visits

      Israel-Gaza conflict rages as US envoy visits

      Police and Crime Commissioner to end funding for heroin addiction treatment scheme

      Police and Crime Commissioner to end funding for heroin addiction treatment scheme

      Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk

      Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk

      Horse Racing Getting back on track

      Rochdale hopes machine centre will manufacture revival in fortunes

      The sad state of Cardiff city centre after a year of lockdown as shops lose fight to hold on

      The sad state of Cardiff city centre after a year of lockdown as shops lose fight to hold on

      Convoy drives through London shouting  the Jews, rape their daughters’

      Convoy drives through London shouting the Jews, rape their daughters’

      Conflict intensifies in Gaza as Israeli strikes destroy Gaza tower housing

      Trending Tags

        • Crime
        • Economy
        • News of England
        • News of Northern Ireland
        • News of Scotland
      • Royal Family
      • Tv & Showbiz
      • World News
      • JOBS
      • Sport
        • Football
        • Watch Live Score Football (Soccer) Videos
      No Result
      View All Result
      News Press Live
      No Result
      View All Result

      COVID-19: Wage growth at highest level since 2008 as lowest-paid pay highest price | Business News

      15.4k
      VIEWS
      Share on FacebookShare on Twitter

      Rates of pay growth are running at their highest level since 2008, according to official figures which also show “early signs” of stabilisation for payrolled employment despite the continuing coronavirus pandemic.

      The Office for National Statistics (ONS) reported average weekly earnings rose by 4.7% on an annual basis during the three months to December.

      It suggests that many of those in work were being rewarded for their performances during the crisis at the end of 2020 as, when the effects of bonuses are stripped out, the rate of growth slowed to 4.1%.

      Live COVID news from UK and around the world

      However, experts said they also reflected the fact that many of those to have lost their jobs – stripping them from the wage figures – were more likely to have been the young in lower-paid jobs.

      The wider data showed 726,000 fewer payrolled employees during the crisis to date, with the total number in January 83,000 down on December’s total of 809,000.

      The ONS said that 425,000 of those no longer on Pay As You Earn (PAYE) were under 25 years of age.

      The official jobless rate ticked up to 5.1% – a five-year high – in the three months to December, from 5%.

      The ONS figures were published as Chancellor of the Exchequer Rishi Sunak makes the finishing touches to next week’s budget in which he is widely tipped to extend the furlough scheme and other employment support due to lingering COVID-19 restrictions that have strangled large parts of the economy.

      PM Boris Johnson’s roadmap out of lockdown for England revealed on Monday, while welcomed by businesses for giving clarity on likely sector-by-sector reopening, also confirmed that many will have to wait months before getting back in gear.

      It is set to be a similar path for the rest of the UK in the wake of the worst annual slump for the economy since 1709 when the so-called Great Frost placed activity in hibernation.

      Please use Chrome browser for a more accessible video player



      Economy suffers deepest slump since 1709

      ONS deputy national statistician for economic statistics Jonathan Athow said of the data: “The latest monthly tax figures show tentative early signs of the labour market stabilising, with a small increase in the numbers of employees paid through payroll over the last couple of months – though there are still over 700,000 fewer people employed than before the start of the coronavirus pandemic.

      “Almost three-fifths of this fall in employees since the onset of the pandemic came from the under-25s, according to a new age breakdown we are publishing for the first time today.

      “Our survey shows that the unemployment rate has had the biggest annual rise since the financial crisis.

      “However, the proportion of people who are neither working nor looking for work has stabilised after rising sharply at the start of the pandemic, with many people who lost their jobs early on having now started looking for work.”

      The Treasury has already spent more than £300bn propping up the economy during the pandemic and the Job Retention Scheme, still supporting around four million people’s wages, is currently due to expire at the end of April.

      Mr Sunak said of the figures: “I know how incredibly tough the past year has been for everyone, and every job lost is a personal tragedy.

      “That’s why throughout the crisis, my focus has been on doing everything we can to protect jobs and livelihoods.

      “At the budget next week I will set out the next stage of our Plan for Jobs, and the support we’ll provide through the remainder of the pandemic and our recovery.”

      — to news.sky.com

      Share308Tweet193SendSendShare54Pin69

      RelatedPosts

      Gates Cambridge Scholarship celebrates 20th anniversary
      News

      Gates Cambridge Scholarship celebrates 20th anniversary

      Israel-Gaza conflict rages as US envoy visits
      News

      Israel-Gaza conflict rages as US envoy visits

      Police and Crime Commissioner to end funding for heroin addiction treatment scheme
      Crime

      Police and Crime Commissioner to end funding for heroin addiction treatment scheme

      Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk
      Economy

      Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk

      London

      Horse Racing Getting back on track

      News

      Rochdale hopes machine centre will manufacture revival in fortunes

      Recommended Stories

      Cost of Test and Trace could pay for fishing industry’s contribution to economy for next 49 years

      Cost of Test and Trace could pay for fishing industry’s contribution to economy for next 49 years

      Struggling medical staff may be forced to ration care, fears top GP

      Struggling medical staff may be forced to ration care, fears top GP

      Princess Anne’s financial model could save Royal Family money | Royal | News

      Princess Anne’s financial model could save Royal Family money | Royal | News

      Popular Stories

      • Joe Biden opposes guarded border between Ireland and Northern Ireland | US News

        President Biden Promises to Slash Greenhouse Gas Emissions by 50 Percent by 2030

        2636 shares
        Share 1054 Tweet 659
      • Prince Philip is dead

        2632 shares
        Share 1053 Tweet 658
      • Two US Capitol police officers injured after suspect rams car into barrier and stabbed. Suspect dead

        2372 shares
        Share 949 Tweet 593
      • Prince Harry ‘back in the UK’ ahead of Duke of Edinburgh’s funeral on Saturday

        2143 shares
        Share 857 Tweet 536
      • Juventus chairman Andrea Agnelli says European Super League can no longer go ahead

        2115 shares
        Share 846 Tweet 529
      News Press Live

      © 2021 Copyright - All rights reserved.

      Navigate Site

      • About Us
      • Terms & Conditions
      • Private Policy
      • Advertise With Us
      • Contact Us

      Follow Us

      No Result
      View All Result
      • Home
      • News
        • Crime
        • Economy
        • News of England
        • News of Northern Ireland
        • News of Scotland
      • Royal Family
      • Tv & Showbiz
      • World News
      • JOBS
      • Sport
        • Football
        • Watch Live Score Football (Soccer) Videos

      © 2021 Copyright - All rights reserved.

      Welcome Back!

      Login to your account below

      Forgotten Password? Sign Up

      Create New Account!

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      Are you sure want to unlock this post?
      Unlock left : 0
      Are you sure want to cancel subscription?