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Just when many analysts had come to terms with the 3.5% rise in retail sales in May and the fact this did not seem correct, June has seen a fall of 3.9% in sales – the worst fall in 22 years. The...
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Friday 25th April 2008
Pay increases for UK workers appear to be moderating in April, new data suggests.
New figures from payments specialists IRS show that during the first three months of this year the rate of pay increases stayed steady at three per cent.
However, on the basis of 70 pay deals studied by the firm during April the rate has fallen to around three per cent.
Sheila Atwood of IRS, said that the findings were indicative that in real terms Britons are no better off with retail price inflation currently standing at 3.8 per cent.
She commented: "Our sample of April pay awards clearly shows that pay awards are receding at a faster rate than headline inflation.
"More pay awards are worth less than a year ago, and Gordon Brown seems to be succeeding in keeping a lid on public sector awards.
"The fact remains that pay awards are some way below RPI inflation and not providing for a real increase in pay for many employees."
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