Wages fall at sharpest rate on record

Workers face record pay slump against surging inflation

CPI inflation hit a new 40-year record of 9.4 in June and is expected to peak at around 11 later this year.

UK Workers Face Record Pay Slump Due to Surging Inflation

UK workers saw a record drop in real earnings over the past quarter despite pay increases amid soaring inflation, according to official figures published on Tuesday. The Office for National Statistics (ONS) said regular pay (excluding bonuses) between April and June was estimated to have increased by 4.7 percent compared to the same quarter last year. However, after adjusting for inflation, regular pay plummeted by 3 percent year on year, the bi…

UK workers suffer biggest hit to their wages since records began - Local News 8

By Anna Cooban, CNN BusinessUK workers have suffered the biggest drop in their spending power in more than 20 years as prices keep soaring.Average real wages — which account for inflation — fell by 3% between April and June compared with the same period last year, according to data from the Office for National Statistics published Tuesday. “The real value of pay continues to fall. Excluding bonuses, it is still dropping faster than at any time …

UK workers suffer biggest hit to their wages since records began

By Anna Cooban, CNN BusinessUK workers have suffered the biggest drop in their spending power in more than 20 years as prices keep soaring.Average real wages — which account for inflation — fell by 3% between April and June compared with the same period last year, according to data from the Office for National Statistics published Tuesday. “The real value of pay continues to fall. Excluding bonuses, it is still dropping faster than at any time …

UK workers suffer biggest hit to their wages since records began

UK workers have suffered the biggest drop in their spending power in more than 20 years as prices keep soaring.

UK wages drop in the sharpest fall on record

Over the past six months, Britain’s unemployment figures have arguably been the economy’s saving grace. While the labour market has been extremely tight – with job vacancies reaching their highest…