The average pay for full-time equivalent staff was £580 per week, which was up £40 a week on the same time last year. Meanwhile, the average annual salary of a public sector worker was over £39,500 (£760 a week), whereas that of finance staff was only slightly ahead at just £40,000 (£770 per week) for the first time. And on top of their average pay, finance industry workers pocketed bonuses totalling over £60 million – equivalent to £100 per week per worker – during the 12 months to June this year. The figures indicate a buoyant economy but, according to States economic adviser Dougie Peedle, they also show that unlike the last economic boom in the late 1990s, earnings increases are not galloping too far ahead of inflation, which stood at 4.3% at the end of June.
