Majority of workers' pay 'frozen'

Sam Jackson

August 10, 2011

November 13, 2018

Majority of workers' pay 'frozen'

The majority of employees might have found money management that little bit more difficult recently as a survey revealed that most people have not received a pay rise this year.

According to the Chartered Institute of Personnel and Development (CIPD), only one in four workers have received a wage rise, with most seeing their incomes frozen and one in 20 actually taking a pay cut in the past six months.

The CIPD study also revealed that almost four out of five public sector workers have not received a pay rise this year, compared with half of employees working in the private sector.

Those who were fortunate enough to get a pay rise typically saw their wage packets increase by 3%, which is well below the level of inflation - something that could make personal financial management tricky.

Charles Cotton, the CIPD's performance and reward adviser, said: "Even those who are lucky enough to get an increase in their pay will find it below the current cost of living, compounding consumer belt-tightening.

"Inflation figures later this month will highlight growing pricing pressures, which is likely to continue for some time."

Sam Jackson

Money Dashboard

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