ISLANDERS’ earnings have risen by 1.3% in real terms, according to new figures published by Statistics Jersey.
Average earnings for full-time employees were 6.4% higher in June 2024 than they were in the same month last year.
But the rise was negated by the rate of inflation, meaning real-term increases were far lower.
The agriculture and fishing sector was the only one which recorded a decrease – 2.7% on an annual basis – which was attributed to a drop in average working hours.
Statistics Jersey’s report also noted that the public sector’s increase in average earnings, of 8.8% over the 12 months to June 2024, was driven by the headline 8% pay award which employees received as well as delayed pay awards given to nurses and teachers from 2023.
“This was partially offset by some pay groups in the public sector seeing notable decreases to the level of overtime in June 2024 compared to June 2023,” it continued.
Meanwhile, the private sector saw an overall increase in average earnings of 5.9% across the same period, which is higher than the preceding five-year figure of 4.3% per year.
However, the report highlighted that this falls below the increase of 7.8% seen for the previous 12-month period.
“However, it should be noted that the rate of inflation in June 2023 was significantly higher than the value in June 2024,” the document added.
Deputy Max Andrews, who sits on the Economic and International Affairs Panel, said he “wasn’t surprised” by the difference between the public and private sectors, adding that: “With the public sector, some of the [pay] awards have been quite generous.”
But he also noted that the increased cost of living had presented a challenge – across all sectors – in terms of retaining employees.
“People are struggling, so they want to ensure that they have the ability to continue purchasing the goods that they could previously,” he explained.
