UK wages grow at record rate
UK wages grow at record rate
Regular pay grew at an annual rate of 7.8% between April and June but the unemployment rate rose.
Misleading title. This article says wages grew 7.8% but inflation is still 7.9%.
If your pay does not rise to meet inflation you got a pay cut. Everything else is spin.
This is the best summary I could come up with:
Mr Morgan, the ONS's director of economic statistics, said that basic pay "is growing at its fastest since current records began".
Mr Morgan told BBC Radio 4's Today programme that real pay growth, when taking into account the rate of inflation, "is still falling a little".
Figures show that, taking into account the Consumer Prices Index (CPI) measure of inflation, average regular pay fell by 0.6%.
"The fall in employment in the three months to June and further rise in the unemployment rate will be welcomed by the Bank of England as a sign labour market conditions are cooling, " said Ruth Gregory, deputy chief UK economist at Capital Economics.
Ms Mason said the company had increased its wages to fill shifts left vacant by employees who, following Covid, decided they wanted a better work-life balance and have chosen to work fewer days.
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Where I work we got around 2% increase. Hopefully a big increase coming.
Well done all the striking workers who have negotiated higher than initially offered wage increases!