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Category Archives: Pay & inflation
UK economic outlook – forecasts downgraded – what this means for freelancers
Unless someone tells me otherwise, it seems that the biggest issue for many freelancers arising from the cost-of-living crisis is the question of rising fuel costs – and this is likely to hit workers in film and TV particularly hard … Continue reading
Posted in Film & TV industry data, Freelance working, Inflation, Pay & inflation, Tax, Wages and Pay-rates
Tagged Fuel costs, Mileage
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Living Wage Foundation response to the cost of living crisis
As the cost of living soars at rates not seen for more than thirty years, the Living Wage Foundation has announced plans to bring its annual announcement forward from November to late September. The previous figure was announced in mid-November … Continue reading
April inflation figures – again, worse than expected
Even by the standards of the past 18 months where all forecasts have been shown to be over-optimistic, the leap in CPI inflation between March and April from 7% up to 9% is a startling one. Here’s the ONS summary … Continue reading
Posted in Economics, Inflation, Low pay, Pay & inflation, Wages and Pay-rates
Tagged Office for National Statistics, ONS
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How to calculate inflation between two dates.
Imagine you wanted to work out what an inflation-rate increase between two dates is? Here’s an outline that I’ve drafted with extensive help from Nick Kardahji in the Prospect research team. Say you are preparing a pay claim for some … Continue reading
Posted in Low pay, Pay & inflation, Wages and Pay-rates
Tagged CPI, CPIH, Inflation, Inflation Calculators, RPI
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How inflation is affecting individual households
Further to the previous post on the cost of living, Bectu reps may wish to circulate this Office for National Statistics (ONS) page on how to calculate your personal cost-of-living changes.
Getting the current cost-of-living crisis in perspective
How can we understand the current cost of living crisis in perspective when talking to Bectu members about their wages? One way would be to look at it over a few years. In the past few days, coincidentally, I’ve had … Continue reading
January’s inflation figures
Today’s UK inflation figures show cost-of-living increases that reach the highest rate for over 30 years. The Office for National Statistics (ONS) reported that the consumer prices index (CPI) measure of inflation increased to 5.5% in January from 5.4% a … Continue reading
Posted in Economics, Inflation, Pay & inflation, Wages and Pay-rates
Tagged Inflation
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Food shopping costs soar
Behind a lot of the headlines on inflation (soaring energy and fuel costs in particular), there’s one other important factor to bear in mind – particularly for people on low incomes. While the CPIH inflation rate puts the impact of … Continue reading
Posted in Low pay, Pay & inflation, Wages and Pay-rates
Tagged Food costs, Jack Monroe, More of Less
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You need a 7.1% pay-rise to stand still.
In the light of today’s news about cost-of-living increases… With tax rises in April and inflation set to hit 5% someone on average earnings will need a wage rise of over 7% to keep their living standards constant https://t.co/UpkxBM1Iku — … Continue reading
Cost of living price rises – it’s all bad news
There’s lots of bad news around for anyone who isn’t enjoying significant wage rises at the moment. ONS figures are reporting that the consumer prices index (CPI) measure of annual inflation rose to 4.2% in October, up from 3.1% in … Continue reading
Posted in Economics, Inflation, Low pay, Minimum wage rates, Pay & inflation, Wages and Pay-rates
Tagged Inflation, Productivity
1 Comment
New ‘Living Wage’ published
The Living Wage Foundation has published their new ‘Living Wage’ rates – up from £9.50 to £9.90 across the UK (40p increase), and from £10.85 up to £11.05 in London (20p increase). The Living Wage rates are the only rates … Continue reading
Surprising-yet-unsurprising news about people thinking of leaving their jobs
The most surprising-yet-unsurprising nugget here is that “…the majority of those considering quitting had been offered no incentives to stay by their employers.” 📰📰NEW STUDY: How to Solve the Labour Market Crisis by Raising Standards Labour shortages are a principal … Continue reading
Posted in Economics, Employment, Inflation, Long hours, Low pay, Mental Health, Pay & inflation, The working environment, Wellbeing, Work-life balance
Tagged Autonomy, PIRC
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National Living Wage will rise to £9.50 an hour
The 59p increase for workers over 23 – up 6.6% from £8.91 reflects the inflationary pressure outlined here a few weeks ago. The new rates will rise from 1 April 2022 as follows: National Living Wage for over-23s: From £8.91 … Continue reading
Drivers particularly badly hit by soaring costs
In news that will particularly hit film freelancers, car costs are soaring. Secondhand cars are costing up to 60% more than they did in 2019, and the price of petrol is climbing rapidly. The weekly road fuel prices stats on … Continue reading
Posted in Economics, Environment & Sustainability, Inflation, Pay & inflation
Tagged Car costs, Fuel costs, Petrol prices
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What is happening to self-employment in the UK
The tl;dr answer is that it’s too early to tell. As mentioned previously here, there’s a lot of job-switching going on, and there is a generally tight labour market in the UK (and globally, though the UK has the added spice … Continue reading
Posted in Economics, Employment, EU & Brexit, Freelance working, Pay & inflation
Tagged IR35, Self-employment
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There’s a lot of job-switching going on
Following on from two posts here this morning about inflation/pay, and the tight labour market, here’s a third on the trinity of issues that are creating a fair wind for union-type demands at the moment. Sarah O’Connor in the FT … Continue reading
Posted in Economics, Employment, Low pay, Pay & inflation, Productivity, Wages and Pay-rates
Tagged job-switching, The big quit
1 Comment
Got a pay claim coming up? Want advice on inflation, and stuff like that?
If you have a pay claim coming up and want advice on inflation, and stuff like that…. good luck! Firstly, the official, current inflation figures have not been as flimsy a guide as they are at the moment for a … Continue reading
Posted in Economics, Employment, EU & Brexit, Inflation, Pay & inflation, Productivity, Skills & capacity
Tagged Pay claims
3 Comments
Particularly low pensions and savings levels among self-employed workers
I try to avoid hyperbole on this blog, but the IFS report on ‘Retirement saving of the self-employed‘ makes for shocking reading. As per the intro summary… “The proportion of self-employed workers contributing to a private pension has been steadily … Continue reading
Labour shortages increase potential industrial muscle for workers
Today’s FT is full of news about how labour shortages are hitting the economy in numerous ways as a result of multiple market failures [£] which includes the pandemic, the pingdemic, market failure but obviously, we can’t add brexit to … Continue reading
Housing costs may not stop their current sharp rise
Anyone hoping that the housing market will calm down once the current Stamp Duty holiday fully comes to an end on October 31st may be in for a disappointment. Estate Agents are reporting no obvious market correction in house prices. … Continue reading
More on skills shortages in film & TV
This from Broadcast Mag [£]: “Demand for talent and the skills shortage issue is nearing breaking point, with small indies being priced out of the market and execs being poached midway through jobs. Broadcast has spoken to numerous indie sector … Continue reading
Employers minimum-wage shame list and how it affects freelancers
From an HMG press release earlier today: Today (Thursday 5 August) 191 businesses are being named for breaking the national minimum wage law. Following investigations by Her Majesty’s Revenue and Customs, a total of £2.1 million was found to be … Continue reading
Animation & VFX branch publish their first ratecard
If you get a moment have a look at the Animation & VFX Branch website. The branch has two significant developments recently. Firstly, the Ethical Animation and VFX Charter which forms the basis of their branch manifesto. And secondly, the … Continue reading
Posted in Pay & inflation
Tagged Animation and VFX Branch, Bectu branch activity, Ethical Charter
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Workers reject the idea of a four-day week on lower pay
A new report from The Social Market Foundation (SMF) entitled A question of time [PDF] explores the question of the four day week. The key findings (from the exec summary) are that… Most workers – 80% – would not favour … Continue reading
Upward pressures on low-pay casual wages
This, from the US. It will be interesting to see how the same thing plays out in the UK, with the added spice of Brexit and migration. In the US, one in four workers thinking of leaving their jobs, according … Continue reading
Inequalities rise – ONS
Figures from the Office for National Statistics (ONS) show that, to the financial year ending 2020, after taxes and benefits income, household income has continued on a general trend for rising income inequality in recent years.
Posted in Economics, Equality, Low pay, Pay & inflation, Welfare and benefits
Tagged Class inequality, Household incomes, Inequality
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Automation and low wage link challenged
Here: “…the divorce between the growth of median compensation and productivity, the inequality of compensation, and the erosion of labor’s share of income has been generated primarily through intentional policy decisions designed to suppress typical workers’ wage growth, the failure … Continue reading
Posted in Economics, Equality, Low pay, Pay & inflation, Wages and Pay-rates
Tagged Automation
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Prospect Pay Bulletin April 2021
The Prospect Pay Bulletin for April 2021 is available now – here [login required], with latest inflation, settlements and labour market data, as well as a report on Qinetiq’s finances and on new data on outcomes for homeworkers.