With Strikes Dominating the News, How Do We Measure What A ‘Fair’ Pay Award Is?

Pryce, Vicky (2022) With Strikes Dominating the News, How Do We Measure What A ‘Fair’ Pay Award Is? Birmingham City University, Centre for Brexit Studies Blog.

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The question of what a large increase in public sector workers pay might mean in the battle to control inflation- as well as for government finances- is a real one. Wage growth and its trend will be carefully assessed by the Bank of England when it decides on the size of its expected interest rate hike this Thursday- and this in a week which is also likely to see the Federal Reserve Bank in the US and the European Central Bank raising their own rates by either 50 or 75 basis points . Wage growth matters because even if international pressures that have contributed to the high inflation rates, such as energy and food prices, begin to fade, the fear is that high pay awards will embed higher inflationary expectations across the economy and lead to a wage price spiral which will then be harder to shift.

Item Type: Other
13 December 2022Published Online
Uncontrolled Keywords: Centre for Brexit Studies, CBS, Brexit, BCU, EU, European Union, UK, Birmingham City University, UK Government, UK politics
Subjects: CAH15 - social sciences > CAH15-03 - politics > CAH15-03-01 - politics
Divisions: Research, Innovation, Enterprise and Professional Services > Centre for Brexit Studies
Depositing User: Gemma Tonks
Date Deposited: 11 Jan 2023 11:20
Last Modified: 11 Jan 2023 11:20
URI: https://www.open-access.bcu.ac.uk/id/eprint/14109

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