Wages at a five month low

Posted 16 Feb 2011

Wages have fallen to a five month low, with average weekly earnings increasing by just 1.8 per cent in December.

This is down from a rise of 2.1 per cent in November, with workers now taking home around £456 a week, reports the Daily Telegraph.

The decline in wages was announced by the Office for National Statistics today (February 16th).

Brits could therefore find it harder to pay for bills and goods as it was recently announced that inflation reached four per cent in January, up from 3.7 per cent in December.

This means that the cost of living is going up but wages are not keeping up.

Howard Archer, chief economist at IHS Global Insight, told the newspaper: "We expect wage growth will remain muted due to workers' weak bargaining position given high and likely to rise unemployment."

It was also revealed that unemployment increased by 44,000 in the three months ending in December 2010, with those aged between 16 and 24 being the most likely to be out of work.

Those affected by unemployment or workers who want to earn enough money to live comfortably may want to take a TEFL course and move abroad where the cost of living is lower.

It also trains people to teach English abroad, helping them back into employment.

By Abigail Parris

 

Category: Moving Abroad