CHAMBERS OF COMMERCE PUBLISH NORTH WEST WAGES SURVEY
Chambers of Commerce North West, comprising 17 local Chambers working together on behalf of businesses in the region, has recently published the results of a business survey on wages and benefits.
The survey shows that, despite record inflation rates, fewer employers are taking inflation into account when setting pay. This has resulted in a lower than average increase in overall pay compared with last year.
The Chambers of Commerce North West wages survey also reveals that payroll bills have increased by an average of 5.7% over the past year, compared with 9.1% in 2007.
Commenting on the findings, Alan Welsh, Policy Executive at the Warrington Chamber of Commerce said: “The survey aimed to obtain a picture of employment trends throughout North West businesses, relating to various elements of working life – from pay and overtime levels to benefits and pension schemes. The drop in payroll bills is interesting given the fact that inflation has increased significantly during the same period. Although companies have reported an average increase in payroll, it is clearly less significant that in 2007 and is perhaps further evidence of a slowing economy.”
The survey records the average wage being paid this year for each type of employment. Bricklayers have seen their hourly pay rate drop by 6.9% compared with last year, possibly reflecting the downturn in the construction industry. However a computer programmer has seen his annual salary increase by 42% this year.
Alan Welsh continued: “Some sectors, such as IT, are still enjoying pay increases, but in general most people’s pay is not keeping pace with inflation. This is probably the result of employers trying to keep their costs down, which will in turn lead to employees having less spending power.”
To see the full report CLICK HERE |