Pay rises wiped out by surging inflation, official figures show


UK workers saw their wage rises wiped out by surging inflation late last year, official figures show.

Weekly earnings – excluding bonuses – rose by 3.8% in the three months to November compared to the same period a year earlier, according to the Office for National Statistics (ONS).

But with inflation climbing to a ten-year high, the rise was cut to zero in real terms, the ONS said.

For November alone, workers suffered a real terms pay cut of 1% – the first such fall since July 2020.

But the figures also showed more signs of falling unemployment, which dropped from 4.2% to 4.1%.

They also revealed that in December, the number of workers on UK payrolls climbed by 184,000 to 29.5 million – now 409,000 above pre-pandemic levels in February 2020.

Articles You May Like

Minister says people should work more hours or move to a better job to protect themselves from cost of living surge
No emergency budget and PM’s hints at cost of living announcement ‘over interpreted’, Gove says
One in four people skipping meals over rising cost of living worries, poll for Sky News suggests
Passenger with no flying experience lands plane after pilot medical emergency
Study Identifies How Sleep Helps Our Brain to Process Emotions and Regulate Mental Health