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14-Feb-08 10:42 [Pay and Reward]
UK earnings increase Average earnings increased in the UK in the 12 months to December 2007, according to official figures.
Data from the Office of National Statistics (ONS) showed that earnings - including bonuses - rose by 3.8 per cent.
The ONS noted that regular pay, excluding bonuses, rose by 3.7 per cent in the year to December, compared with 3.6 per cent in November.
Meanwhile, workers in the private sector saw their pay growth rise by four per cent during this period, while employees' earnings in the public sector increased by 3.3 per cent.
Earlier this month, the ONS reported that the employment rate for people of working age was 74.7 per cent for the three months to December last year, representing a 0.3 per cent increase on the rate during the previous quarter.
The country's rate of unemployment stood at 5.2 per cent, having fallen by 0.2 per cent compared with the preceding three months.
The last 12 months have proven to be a very painful time for pension funds in Ireland, according to an investment consultant service's research this week.
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In response to a worsening situation on the high street, major retailer Marks & Spencer (M&S) has announced 1,200 job cuts and big changes to the current final salary pension scheme they offer.
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The value of the hours of unpaid overtime in the UK is £26.9 billion, according to the Trades Union Congress (TUC).
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