UK workers to receive record wage increase

Next year, British employees’ are set to experience their highest increase in real wages since before the recession, according to a new forecast by Korn Ferry Hay Group.

The National Living Wage and lower inflation levels are set to give UK workers their largest real wage increase since 2008, according to the forecast. The average salary will increase by 2.3%.

While the overall picture is positive, there are variations in the British labour market. Different sectors are set for different increases in salaries. Employees at fast-moving consumer goods companies can expect to see their salaries increase by between three per cent and 20%.

In contrast, the oil and gas sector will see a more conservative real wage increase of 0.6%, according to the forecast.