![](\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/03\/britain-s-tesco-raises-store-worker-pay-by-9-1-per-cent.jpg\")
Tesco (TSCO.L), Britain\u2019s biggest retailer, said this week it would raise store workers\u2019 hourly pay by 9.1 per cent, in a move that reflects the increase in the government-mandated minimum wage.<\/p>\nTesco (TSCO.L), Britain\u2019s biggest retailer, said this week it would raise store workers\u2019 hourly pay by 9.1 per cent, in a move that reflects the increase in the government-mandated minimum wage.<\/p>\n
The supermarket group, one of the country\u2019s largest private sector employers , said a deal struck with shopworkers\u2019 union USDAW means hourly base pay will rise from 11.02 pounds ($13.98) to 12.02 pounds from April.That is ahead of the government\u2019s national living wage, which will increase by 9.8 per cent to 11.44 pounds an hour.Tesco\u2019s London workers will get 13.15 pounds an hour.The group said the rise would cost it over 300 million pounds.The Bank of England is keeping a close eye on wage settlements as it assesses the direction of interest rates. It fears rapid wage growth could add more inflationary pressure across the economy.Worker wages in Britain have only recently begun outpacing inflation, which held steady at 4 per cent in January, still double the central bank\u2019s target of 2 per cent.Sainsbury\u2019s (SBRY.L), Britain\u2019s second biggest supermarket group, announced a 9 per cent pay rise for its workers in January, with an hourly rate of 12 pounds from March.The No. 3 player, Asda, last week announced an 8.4 per cent hike. However, its increase to 12.04 pounds an hour will not take effect until July.Other retailers, including Marks & Spencer (MKS.L), Amazon (AMZN.O), Aldi, Lidl and Costa Coffee have also announced pay rises for 2024.($1 = 0.7881 pounds)Follow the
\nCyprus Mail on Google News<\/p>\n","protected":false},"excerpt":{"rendered":"
Tesco, Britain’s largest retailer, announced a 9.1% increase in hourly pay for store workers, raising the base pay from 11.02 pounds to 12.02 pounds starting April. This pay rise, negotiated with the shopworkers’ union USDAW, surpasses the government’s national living wage increase of 9.8% to 11.44 pounds an hour. Tesco’s London workers will receive 13.15 pounds an hour. The pay rise will cost Tesco over 300 million pounds. Other UK retailers, including Sainsbury’s, Asda, Marks & Spencer, Amazon, Aldi, Lidl, and Costa Coffee, have also announced pay increases for 2024.<\/p>\n","protected":false},"author":3,"featured_media":3650,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[246,47,195,3,26,250,415,1197,67,1190,899,450,16,494,1198],"class_list":["post-3649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cyprus","tag-amazon","tag-bank-of-england","tag-britain","tag-cyprus","tag-economy","tag-google","tag-government","tag-hourly-pay","tag-inflation","tag-inflationary-pressure","tag-interest","tag-london","tag-minimum-wage","tag-uk","tag-wage-growth"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\n