- Pay rises are failing to keep up with inflation – with total pay increases of 7.2% in the private sector and 1.5% in the public sector.
- Real wages, excluding bonuses, fell on an average of 3.7% over the three months to May, representing the worst annual drop since records began in 2001.
- Inflation struck a new 40-year high of 9.1% in May and is expected to reach 11% in the autumn.
- Real wages took a 3.9% hit in the year to May – an improvement on April’s figure of 4.5%, but still worse than any other time on record.
- The employment rate remains beneath pre-pandemic levels despite increasing by 0.4% to 75.9%.
- 29.6m on payroll in July, an increase of 31,000 from May to June.
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