Jon Boys, labour market economist at the CIPD, the professional body for HR and people development, said:
Gender pay gaps
“Overall, there has been a small increase in the gender pay gap, but it is not statistically significant.
“On average, women now earn 91 pence for ever one pound a man earns. However, women working in the finance and insurance sectors earn just 72 pence for every one pound earned by men. In contrast, women working in employment activities, such as recruitment, earned slightly more than their male counterparts. While we must allow for sectoral differences, the rate of change is slow and it’s likely to take years, even decades, before we see real, lasting change across all parts of our economy.
Typical pay – median earnings
“The typical worker’s pay has increased by 0.6% in real terms. This works out at just £190 a year and the rate of growth is still nowhere near the pace we experienced before the financial crash. Until we solve the problem of business productivity, UK employers will struggle to increase pay awards for their people.
Inequality – top and bottom 10%
“Those at the bottom have achieved the biggest increases in percentage terms. The bottom 10% of earners got 3.0% more this year whilst the top ten percent only got 0.1%. However, the people at the top were paid more to begin with, so their pay increased by 60p an hour compared to 40p for those at the bottom.”
