VocaLink’s take home pay index increased for the first time in three months, to 3.5% in November from 3.4% in October. Wage growth is typically quite resilient in a downturn, particularly when starting from low levels as employees strongly resist falling pay in cash terms.
The VocaLink manufacturing sector sub index showed a fourth consecutive monthly decline, falling to 2.3%. Despite the drop in the value of sterling, weak markets at home and abroad have sent the industry sector into recession. Take home pay growth in the service sector also edged down reaching 3.9% in November from 4.1% in October.
Richard Cooper, marketing director at VocaLink, said, “Since March the VocaLink take home pay index has become increasingly aligned to the retail sales index. With consumers finding it harder to obtain credit, it remains to be seen if VAT cuts along with price deflation will boost retail spending in the run up to Christmas.” The VocaLink take home pay index tracks monthly take-home pay levels in the UK.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more