Average weekly pay falls record 2.2 per cent - Business - Evening Standard
       

Average weekly pay falls record 2.2 per cent

British average weekly pay fell on the year in January for the first time since comparable records began in 2001, probably due to lower bonuses, official data showed today.

But the overall 2.2% decrease to £446.50 masked a significant increase for public sector workers whose weekly pay was 3.4% higher than a year ago. The data showed bonuses were lower than a year earlier.

The Office for National Statistics said wages in the private sector fell 3.4% year on year in January to £448 - also the first decline on record.

Wages in the manufacturing sector rose 1.5% on the year to £494.1 - the weakest rise on record - while pay in the services sector, which accounts for three-quarters of economic output, fell a record 3.1% on the year to £433.6.

Plunging demand has forced many companies to slash jobs and curb wage rises, while a fear of being laid off has also prevented workers from asking for pay increases this year, as unemployment topped 2 million.

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