Business

Real wages fall -1.2% in December as pay lags behind inflation

Pay packets across Britain grew by 6.3% in January when compared with the same month in 2021, just outstripping the 5.4% rate of inflation, according to the latest Office for National Statistics (ONS) data.

Meanwhile, wages were 10.3% higher in January 2022 than before the pandemic started in February 2020.

Recent labour market data has shown how wage rises are struggling to keep pace with spiralling inflation.

Britain’s cost of living squeeze has seen a surge in prices across the board led by higher household bills but also including rising petrol, energy, and food costs.

Other figures released by the data authority show that between October and December 2021, employment was 75.5%, while unemployment was 4.1%, and economic inactivity was 21.2%.

Articles You May Like

Police at Jota crash site
Pamela Brown reports from Camp Mystic, where she went as a child
Dad jumps into ocean after his daughter falls overboard on cruise ship
Entire house swept away in flood