Published 1 year ago

Wages fall at sharpest rate on record

Summary by Ground News

Regular pay fell at the sharpest rate on record between April and June, official figures show. Wages - when taking into account rising prices - dropped by 3% on the year, the Office for National Statistics said. The rise in prices has fuelled the UK inflation rate to 9.4%, with warnings the economy will fall into recession.

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BBC News

Inflation drives fastest fall in real pay on record

Wage growth is lagging behind soaring prices as households grapple with the rising living costs.

1 year ago·United Kingdom

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The Guardian

UK wages in June fall at fastest rate for 20 years

Real pay continues to be outstripped by soaring inflation amid a continuing cost of living crisis

1 year ago·London, United Kingdom

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Reuters

UK's hot labour market cools and inflation eats pay

Britain's super-hot labour market showed signs of cooling in official data published on Tuesday, as businesses became more cautious about hiring and workers suffered a record fall in their basic wages when adjusted for soaring inflation.

1 year ago·United Kingdom

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The Independent

Wages plunge at record rate as cost of living crisis deepens

Real wages fall 3% after inflation but government claims ‘jobs market is strong’ as public sector workers receive huge pay cut and bankers enjoy big bonuses

1 year ago·London, United Kingdom

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CNN

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.

1 year ago·Atlanta, United States

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KIFI

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 …

1 year ago·Idaho Falls, United States

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