UK wages in June fall at fastest rate for 20 years

The real value of UK workers’ pay continued to fall at the fastest rate for 20 years in June as wage increases were outstripped by soaring inflation amid the cost of living crisis.

by | 16 Aug, 2022

The Office for National Statistics said annual growth in average pay, excluding bonuses, strengthened to 4.7% in the three months to June against a backdrop of low unemployment and high job vacancies.

However, the real value of workers’ pay packets dropped by 3% – the fastest decline since comparable records began in 2001 – after taking account of its preferred measure of inflation.
Read more at The Guardian

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