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01-Aug-08 11:30 [Pay and Reward]
Gap between pay rise and living costs is widest in 20 years Employees are suffering from the biggest gap between living costs and pay rises in almost 20 years, it has been reported.
Personneltoday.com published figures released by the Industrial Relations Service (IRS) which uncovered facts showing average wage increases in both the private and public sector were at 3.2 per cent, yet the rate of inflation stood at 4.6 per cent.
The difference is the largest gap recorded since 1990, the news provider added.
IRS studied pay rises between the months of April and June at over 260 firms, analysing the difference at a time when the Office of National Statistics revealed the UK's economy growth stalling at 0.2 per cent.
Shadow chief secretary to the Treasury Phillip Hammond told the website: "This research shows exactly why life is getting tougher for Britain's hard-pressed families.
"Living costs are outstripping people's pay rises, leaving families' incomes squeezed."
A series of strikes over pay rises by Unison workers last month saw 500,000 people walking out of public sector jobs over the country for 48 hours between the 16th and 17th of July.
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