New York, NY -- (SBWIRE) -- 05/29/2013 -- Official figures which were disclosed today show that employees in the private sector had to endure yet another freeze in their salaries this year, whilst public sector workers continue to enjoy pay rises. Perry Mandera boxing fan and businessman read that these figures were, ironically, released just a few hours prior to Chancellor George Osborne announcing that the economy was finally starting to recovery.
Despite the Government making a public pledge to rein in pay rises within the public sector, data from the Office for National Statistics revealed that workers whose jobs are funded by taxpayers, have enjoyed pay rises of around 1.4 percent in the first quarter of 2013. In contrast, clients of Perry Mandera marine learned that private sector salaries have been frozen for several months now. It has been theorised that thousands of people working within the public sector have managed to sidestep the pay freezes because they have been promoted (promotions, in a lot of Government jobs, are automatic).
Speaking to a group of business leaders, George Osborne argued that the financial markets are more confident than they have been in quite some time, and that the economy is growing. He noted that the FTSE 100 of one of the largest companies in Britain currently stands at the highest it has been since 2008. Osborne insisted that the austerity plan put in place by the Government is working well, and warned that it was essential for business leaders not to lose their nerve at this crucial point in time.
Clients of Perry Mandera ITA member, read that Osborne is ‘optimistic’ about the future of the economy – this sentiment was echoed by the Bank of England Governor, Sir Mervyn, who stated that the figures show that the economy is much stronger than they initially believed it to be, and that whilst a complete recovery will take some time, they are heading in the right direction with the aforementioned austerity plan. However, these words provided private sector workers with little comfort, as their pay freezes are set to continue for the rest of the year. This coupled with the fact that the Consumer Price Index showing that the cost of living has risen by 2.8%, creates a rather dismal outlook for anyone working within the private sector.
Private sector workers have been voicing concerns over pay freezes. However, both George Osborne and the Governor of the Bank of England claim that the economy is doing well, and that Britain is on the road to recovery.
Name: Kevin Gumther
Location: New York, New York