Millions of workers face pay cut as ‘real’ wages fall at fastest rate in a decade – but job vacancies soar

The Sun says MILLIONS of Brits are facing a cut to pay in real terms as inflation is outpacing wage growth.

Millions of workers face pay cut as ‘real’ wages fall at fastest rate in a decade – but job vacancies soar

The Sun says MILLIONS of Brits are facing a cut to pay in real terms as inflation is outpacing wage growth.

Official data published today by the Office for National Statistics (ONS) shows pay increased by 4.2% in the three months to April, excluding bonuses.

But inflation is running at 9% and could go even higher piling pressure on people’s finances.

It means in real terms it’s a pay cut, with wages down 2.2% on last year the ONS said.

Even when wages go up, if they don’t keep up with prices in shops then you’re spending more of your income on essentials like food and fuel, leaving your finances squeezed.

https://www.thesun.co.uk/money/18870647/millions-workers-pay-cut-real-wages-fall-fastest-decade/

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