I'm staggered that a few people really don't understand what real wages are!!
Very few people in the Country know the difference between real increases in wages and nominal increases in wages.
There's a reason why you aren't taught anything about how the economy really works at school.
The amount of people who I work with who don't know that they are receiving negative interest rates on their savings is incredible, most people probably are receiving a real interest rate of -6% but are ecstatic to receive a nominal rate of 4%.
No sweetie, it would have been a pay cut if they had said we want to take your wages from £13.39 p/h down to £10.09 p/h over 3 years instead of up to the £14 something on offer.
Do you know how inflation works?
Inflation has nothing to do with it. They are offering more money. That isn’t a pay cut.
Why do you think other unions reject paltry wage rises? Because if you factor in inflation they are wage cuts in essence.
So when inflation comes down, your wage goes down in turn?
What is more worrying is that the Union has clearly accepted that inflation will be at or below 2% by next year.
Even if that is true which, nobody can actually predict, it would mean that they are happy to have us paid, in real terms, far less in 2 years than we were paid in 2021.
What is more worrying is that the Union has clearly accepted that inflation will be at or below 2% by next year.
Even if that is true which, nobody can actually predict, it would mean that they are happy to have us paid, in real terms, far less in 2 years than we were paid in 2021.
Inflation will go down in the next few months as interest rises cause people to lose their jobs,this will lead to demand destruction but inflation will be back as BOE will turn on the money printers in a vain attempt to stimulate the economy.
I keep telling people on here that the UK is screwed but my views just attract abuse .
No sweetie, it would have been a pay cut if they had said we want to take your wages from £13.39 p/h down to £10.09 p/h over 3 years instead of up to the £14 something on offer.
No sweetie, it would have been a pay cut if they had said we want to take your wages from £13.39 p/h down to £10.09 p/h over 3 years instead of up to the £14 something on offer.
Do you know how inflation works?
Yes, your pay RISE will give you more money but inflation means it will buy less. However you cut it pay will increase.
No sweetie, it would have been a pay cut if they had said we want to take your wages from £13.39 p/h down to £10.09 p/h over 3 years instead of up to the £14 something on offer.
Do you know how inflation works?
Inflation has nothing to do with it. They are offering more money. That isn’t a pay cut.
Why do you think other unions reject paltry wage rises? Because if you factor in inflation they are wage cuts in essence.
So when inflation comes down, your wage goes down in turn?
Thick as mince.
Not thick enough to try and claim that receiving more money is somehow a pay-cut though. Wild logic with that one.
No sweetie, it would have been a pay cut if they had said we want to take your wages from £13.39 p/h down to £10.09 p/h over 3 years instead of up to the £14 something on offer.
Do you know how inflation works?
Inflation has nothing to do with it. They are offering more money. That isn’t a pay cut.
Why do you think other unions reject paltry wage rises? Because if you factor in inflation they are wage cuts in essence.
So when inflation comes down, your wage goes down in turn?
Thick as mince.
Not thick enough to try and claim that receiving more money is somehow a pay-cut though. Wild logic with that one.
You must know the difference between a Nominal rise and a Real rise.
And if you don't why have you been trying to argue with me about inflation?
With respect, you are making yourself look foolish.
No sweetie, it would have been a pay cut if they had said we want to take your wages from £13.39 p/h down to £10.09 p/h over 3 years instead of up to the £14 something on offer.
Do you know how inflation works?
Inflation has nothing to do with it. They are offering more money. That isn’t a pay cut.
Why do you think other unions reject paltry wage rises? Because if you factor in inflation they are wage cuts in essence.
So when inflation comes down, your wage goes down in turn?
Thick as mince.
Not thick enough to try and claim that receiving more money is somehow a pay-cut though. Wild logic with that one.
You must know the difference between a Nominal rise and a Real rise.
And if you don't why have you been trying to argue with me about inflation?
With respect, you are making yourself look foolish.
Of course but this isn’t a cut. That was my point. It’s a misleading title.
No sweetie, it would have been a pay cut if they had said we want to take your wages from £13.39 p/h down to £10.09 p/h over 3 years instead of up to the £14 something on offer.
Do you know how inflation works?
Inflation has nothing to do with it. They are offering more money. That isn’t a pay cut.
Why do you think other unions reject paltry wage rises? Because if you factor in inflation they are wage cuts in essence.
So when inflation comes down, your wage goes down in turn?
Thick as mince.
Not thick enough to try and claim that receiving more money is somehow a pay-cut though. Wild logic with that one.
You must know the difference between a Nominal rise and a Real rise.
And if you don't why have you been trying to argue with me about inflation?
With respect, you are making yourself look foolish.
Of course but this isn’t a cut. That was my point. It’s a misleading title.
In Nominal terms no in Real terms yes.
The title is not misleading in the slightest if you understand what inflation is.
People earn more Currency Units in Venezuela compared to the UK but this is irrelevant as their Currency has miniscule purchasing power.
Get yourself over to Venezuela Lou and you will be a Multi Billionaire by exchanging £1000 into Venezuelan Bolivars.
No sweetie, it would have been a pay cut if they had said we want to take your wages from £13.39 p/h down to £10.09 p/h over 3 years instead of up to the £14 something on offer.
Do you know how inflation works?
Inflation has nothing to do with it. They are offering more money. That isn’t a pay cut.
Why do you think other unions reject paltry wage rises? Because if you factor in inflation they are wage cuts in essence.
So when inflation comes down, your wage goes down in turn?
Thick as mince.
Not thick enough to try and claim that receiving more money is somehow a pay-cut though. Wild logic with that one.
You must know the difference between a Nominal rise and a Real rise.
And if you don't why have you been trying to argue with me about inflation?
With respect, you are making yourself look foolish.
Of course but this isn’t a cut. That was my point. It’s a misleading title.
In Nominal terms no in Real terms yes.
The title is not misleading in the slightest if you understand what inflation is.
People earn more Currency Units in Venezuela compared to the UK but this is irrelevant as their Currency has miniscule purchasing power.
Get yourself over to Venezuela Lou and you will be a Multi Billionaire by exchanging £1000 into Venezuelan Bolivars.
Isn’t Venezuela the murder capital of the world though? Sounds like a plan. Still preferable to living in post-Brexit Britain.
No sweetie, it would have been a pay cut if they had said we want to take your wages from £13.39 p/h down to £10.09 p/h over 3 years instead of up to the £14 something on offer.
Do you know how inflation works?
Inflation has nothing to do with it. They are offering more money. That isn’t a pay cut.
Why do you think other unions reject paltry wage rises? Because if you factor in inflation they are wage cuts in essence.
So when inflation comes down, your wage goes down in turn?
Thick as mince.
Not thick enough to try and claim that receiving more money is somehow a pay-cut though. Wild logic with that one.
You must know the difference between a Nominal rise and a Real rise.
And if you don't why have you been trying to argue with me about inflation?
With respect, you are making yourself look foolish.
Of course but this isn’t a cut. That was my point. It’s a misleading title.
In Nominal terms no in Real terms yes.
The title is not misleading in the slightest if you understand what inflation is.
People earn more Currency Units in Venezuela compared to the UK but this is irrelevant as their Currency has miniscule purchasing power.
Get yourself over to Venezuela Lou and you will be a Multi Billionaire by exchanging £1000 into Venezuelan Bolivars.
Isn’t Venezuela the murder capital of the world though? Sounds like a plan. Still preferable to living in post-Brexit Britain.
No sweetie, it would have been a pay cut if they had said we want to take your wages from £13.39 p/h down to £10.09 p/h over 3 years instead of up to the £14 something on offer.
Do you know how inflation works?
Inflation has nothing to do with it. They are offering more money. That isn’t a pay cut.
Why do you think other unions reject paltry wage rises? Because if you factor in inflation they are wage cuts in essence.
So when inflation comes down, your wage goes down in turn?
So when inflation comes down, your wage goes down in turn?
Erm, no. When inflation goes down you can accept smaller pay rises.
Say you accepted 10% and inflation was 10%. If in the following year inflation falls to 3% you still need an additional 3% over and above the 10% you had last year in order to keep pace.
You're confusing a decrease in inflation with an actual fall in prices.
I know what inflation is but the point being made was implying that wages have to increase in line with inflation for them to be a rise. That isn’t true at all.
Either way I’ll be voting for the deal that offers me more money by way of a pay cut.
No, you really don’t.
As your initial comments completely contradicted itself.
Thus you not knowing what inflation means.
Is this deal going to lead to a pay cut? No. You are getting a raise.
Inflation plays no part in whether this is an increase in pay or not. If you receive more money from your employer you cannot claim it is a pay cut.
My original point stands. If inflation decreased and bills likewise, you wouldn’t suddenly hand money back after your inflation busting raise.
for prices to drop, we’d need negative inflation which pretty much never happens.
Even if inflation drops to 1%, prices are still rising!!
.
for prices to drop, we’d need negative inflation which pretty much never happens.