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The year of the pay rise

Wages have not risen above inflation for three decades—but that may change

By Hamish McRae   February 2014

© GETTY IMAGES

© GETTY IMAGES

Will 2014 be the year of the pay rise? There are signs that it just might. In Britain in January, job vacancies grew at their fastest for more than 15 years. Salaries for permanent staff rose, according to a survey by the Recruitment and Employment Federation and KPMG, while the Office for Budget Responsibility predicted that real wages—taking account of inflation— will finally begin to rise after five years of stagnation.

If so, that would shatter the pattern that has held in Britain, the United States…

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