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Aldi UK awards store staff second pay rise this year
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LONDON (Reuters) -German-owned discount supermarket group Aldi UK said on Monday it was awarding its store staff a second pay rise this year in another indication of Britain’s tight labour market.
LONDON (Reuters) -German-owned discount supermarket group Aldi UK said on Monday it was awarding its store staff a second pay rise this year in another indication of Britain’s tight labour market.
Many UK employers are offering higher pay deals in the face of staff shortages and accelerating prices. The Bank of England is watching settlements closely as it weighs the risk that a jump in inflation to a 40-year high of 9.4% becomes embedded in the economy.
Aldi UK, which trades from 970 stores across Britain, said that from September about 26,000 store assistants would receive a minimum of 10.50 pounds ($12.57) an hour nationally and 11.95 pounds in London – rises of 4% and 3.5% respectively.
Rates had gone up from 9.55 pounds to 10.10 pounds nationally and from 11.07 pounds to 11.55 pounds in London in February.
Aldi is Britain’s fifth-largest supermarket group after market leader Tesco, Sainsbury’s, Asda and Morrisons. All have raised pay this year.
($1 = 0.8356 pounds)
(Reporting by James Davey; Editing by Kate Holton and David Holmes)
Compensation refers to the payment or benefits provided to employees in exchange for their work, which can include wages, bonuses, and other financial incentives.
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power. It is often measured by the Consumer Price Index (CPI).
A retail market is a sector of the economy where goods and services are sold directly to consumers. It includes various types of stores and online shopping platforms.
Employment opportunities refer to available jobs or positions within a company or industry that individuals can apply for, often influenced by economic conditions.
The UK economy is the economic system of the United Kingdom, characterized by a mixed economy that includes various sectors such as services, manufacturing, and agriculture.
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