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Pay rises fail to keep up with the cost of living

Data shows weekly wage growth fell for the first time since July 2020 but vacancies hit a new record.

Data shows weekly wage growth fell for the first time since July 2020 but vacancies hit a new record.

Summary

  • But he said: “It is important to remember that we are not alone in that.
  • There’s a global phenomenon because the causes of inflation - whether it is supply chains or energy prices - are of course global in nature.
  • But we are taking action to support people as best we can.”