South East London wages are up lower than 6 per cent as inflation soars

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Average wages in south-east London have risen by less than 6 per cent as the cost of living crisis begins to take hold and real wages across the UK continue to fall, new figures show.

The Trades Union Congress said new Prime Minister Liz Truss “needs to secure a pay rise” ahead of a difficult winter in which many households worry about how to make ends meet.

Nationwide, median monthly wages rose 6.5 per cent last year to £2,111 in August, but this still represents a real pay cut thanks to rising inflation.

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Another ONS figure shows that real wages excluding bonuses – adjusting for inflation – fell 2.8 percent year-on-year across the country between May and July, one of the largest declines since records began in 2011.

Below is a list of average wages in South East London.

Bexley

The latest ONS figures show that the average wage in Bexley was £2,471 a month in August – up from £2,341 a year earlier.

That means wages have risen by 5.6 percent over the past 12 months, just as the cost-of-living crisis has begun.

Bromley

ONS figures show the average wage in Bromley was £2,773 a month in August – up from £2,621 a year earlier.

That means wages have increased by 5.8 percent over the past 12 months.

Dartford

The latest ONS figures show that the average wage in Dartford was £2,459 a month in August – up from £2,326 a year earlier.

That means wages have increased by 5.7 percent over the past 12 months.

greenwich

The latest ONS figures show that the average wage in Greenwich was £2,569 a month in August – up from £2,433 a year earlier.

That means wages have risen by 5.6 percent over the past 12 months, just as the cost-of-living crisis has begun.

Lewisham

Figures show the average wage in Lewisham was £2,575 a month in August – up from £2,448 a year earlier.

That means wages have increased by 5.2 percent over the past 12 months.

TUC General Secretary Frances O’Grady said: “Every worker deserves a decent standard of living and as the cost of living crisis deepens, millions of families are at a loss as to how to make ends meet this winter.”

Ms O’Grady called on Ms Truss to increase pay packages, including raising the minimum wage, a decent pay rise for public sector workers and allowing unions to negotiate better pay for workers.

Greg Thwaites, head of research at the Resolution Foundation think tank, said the only “bright spot” was the slight fall in inflation – which is still close to a 40-year high but edged down to 9.9 percent from 10.1 percent in August that month before.

It means pay packages may not shrink any faster, although they won’t grow next year, he said.

Unemployment among 16- to 64-year-olds nationwide also continued to decline year after year, reaching 3.7 percent in the three months to July, its lowest level since 1974, separate ONS statistics outline.

In London it was 4.5 percent – after 6 percent in the previous year.

Despite the drop in unemployment, inactivity rose to 21.7 per cent nationally – the same in London.

Mr Thwaites said: “Rather than the cost of living crisis enticing people to find work again, more people are exiting the labor market altogether, mainly for health reasons.”

The Treasury declined to comment due to the period of national mourning.

JMM

Your Money Matters is a campaign launched by us and our sister titles on Newsquest to help you overcome the rise in the cost of living. This year has seen a slew of household price hikes – from raising the energy price cap to soaring inflation and food prices – that have cost your family hundreds or even thousands of extra pounds a year. We make it our mission to take care of your money by offering savings, contests, giveaways and insightful stories from your community about how this cost of living crisis is impacting our readers. The global energy crisis, exacerbated by the invasion of Ukraine, the financial fallout from the Covid pandemic, record high inflation and a rise in the cost of goods, fuel and travel mean we will all feel the pinch. With our newspaper we want to do everything in our power to make your money better known because we know that your money is important.

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