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| Pay rises fastest for the wealthy, ONS data shows | |
| (35 minutes later) | |
| Pay rates have risen much faster for the wealthy in the past 25 years than for the poorest, official figures show. | |
| The average full-time hourly rate was £12.62 in April 2011, compared to £3.87 in 1986, says the Office for National Statistics. | The average full-time hourly rate was £12.62 in April 2011, compared to £3.87 in 1986, says the Office for National Statistics. |
| After adjusting for inflation, this equates to a 62% rise in wages. | After adjusting for inflation, this equates to a 62% rise in wages. |
| But while the lowest 10% of earners have seen their hourly rates rise 47% in real terms, the highest 10% of earners have enjoyed an 81% rise. | |
| While the top 1% of earners have seen their wages rise 117% above inflation, the bottom 1% saw a 70% increase. | |
| In 1986, the richest segment earned eight times more than the poorest, now they earn 10 times more per hour. | |
| Wage inequality - the ratio of the highest to lowest earners - rose between 1986 and 1998, but fell back after Tony Blair's Labour government introduced the National Minimum Wage in 1999, says the ONS. | Wage inequality - the ratio of the highest to lowest earners - rose between 1986 and 1998, but fell back after Tony Blair's Labour government introduced the National Minimum Wage in 1999, says the ONS. |
| The figures, which exclude overtime, show that the minimum wage has helped the bottom 1% achieve a real wage increase of 51% since 1998. | The figures, which exclude overtime, show that the minimum wage has helped the bottom 1% achieve a real wage increase of 51% since 1998. |
| But the recent recession, which began during the financial crisis in 2008, has seen wages cut in real terms across all income groups, as pay freezes have taken their toll. | But the recent recession, which began during the financial crisis in 2008, has seen wages cut in real terms across all income groups, as pay freezes have taken their toll. |
| Aircraft pilots and flight engineers earned the highest average hourly rate of £44.49 in April 2011 - the highest of all professional occupations, but excluding self-employed people, such as barristers. | Aircraft pilots and flight engineers earned the highest average hourly rate of £44.49 in April 2011 - the highest of all professional occupations, but excluding self-employed people, such as barristers. |
| Bar staff and restaurant workers were the lowest paid, earning £6.25 on average per hour. | Bar staff and restaurant workers were the lowest paid, earning £6.25 on average per hour. |
| This is below the new living wage rate announced by London mayor Boris Johnson earlier this week, set at £8.55 per hour within London and £7.45 outside London. | This is below the new living wage rate announced by London mayor Boris Johnson earlier this week, set at £8.55 per hour within London and £7.45 outside London. |
| The ONS research also highlighted the concentration of well-paid jobs in London, with just over a third (36%) of the nation's top 10% of earners working in the capital. | |
| "Not surprisingly London, with many jobs in the financial sector, had the greatest wage inequality, with the top 1% being paid 16.2 times those in the lowest," the ONS said. | |
| "The least inequality was in Wales, where the highest earners had wages seven times higher than the lowest." |