ISLANDERS’ wages have grown at the fastest rate for 22 years – but the high cost of living has wiped out any benefit, new figures reveal.
In the 12 months to June, average earnings in the private sector rose by 7.8% – but fell by 2.8% in real terms when inflation was factored in.
In the public sector, earnings increased by 7.4%, but dropped by 3.2% in real terms.
The median average earnings of full-time equivalent employees was £800 per week.
Over the last decade, average earnings have decreased in real terms by 2.7%.
The data, published by Statistics Jersey, shows that average earnings in the agricultural industry rose by 19.8%, the highest of any sector, which was driven by an increase in the minimum wage (13.9%) and more hours being worked in June this year than in 2022.
Meanwhile, finance remains the highest-paid profession with workers in this sector earning £1,260 per week on average, followed by government employees (£1,120) and those working for the electricity, gas and water utilities (£1,050).
Islanders working in hotels, restaurants and bars were the lowest earners, taking home £590 per week on average.
The average increase in wages across the Island over the past year was the highest recorded since June 2001, but earnings still fell by 2.8% when inflation was taken into account.
The report measured the annual change in average earnings – taken as gross wages and salaries – that have been paid to workers in Jersey.
It includes overtime payments but excludes bonuses, employers’ insurance contributions, holiday pay and benefits in kind.
Within the private sector, the lowest increase in average earnings was recorded by ‘other business activities sector’, which includes a wide range of mainly service-based businesses and includes care homes, cleaning companies, private education and leisure services – this group saw an increase of 5.2% on an annual basis, before inflation.
Jersey Living Wage
Around 14% of private-sector employees were earning less than the Jersey Living Wage of £12.19 per hour. The sectors with the highest proportion of employees earning less than this were agriculture and fishing (43%), hotels, restaurants and bars (40%) and wholesale and retail trades (36%).
