August 17, 2022
1 min read

UK workers to face record pay slump

Official figures also showed that the number of UK workers on payrolls rose by 73,000 between June and July to 29.7 million…reports Asian Lite News

British workers saw their pay lag behind inflation at record levels over the past quarter, according to official figures.

The Office for National Statistics (ONS) said regular pay, excluding bonuses, grew by 4.7 per cent over the three months to June.

Analysts had predicted that wages would increase by 4.5 per cent.

It comes after CPI inflation hit a new 40-year record of 9.4 per cent in June and is expected to peak at around 11 per cent later this year.

The ONS said this resulted in a 3per cent% drop in regular pay for employees once inflation is taken into account, representing the biggest slump since records began in 2001.

Official figures also showed that the number of UK workers on payrolls rose by 73,000 between June and July to 29.7 million.

ONS director of economic statistics Darren Morgan said: “The number of people in work grew in the second quarter of 2022, whilst the headline rates of unemployment and of people neither working nor looking for a job were little changed.

“Meanwhile, the total number of hours worked each week appears to have stabilised very slightly below pre-pandemic levels. Redundancies are still at very low levels.

“However, although the number of job vacancies remains historically very high, it fell for the first time since the summer of 2020.”

ALSO READ-UK govt under fire over treatment of Afghan refugees

Previous Story

Heatwave: Chinese factories in Sichuan ordered to close

Next Story

Police raid meeting of banned church members in China

Latest from -Top News

IAEA sounds nuclear alarm in Iran

UN nuclear watchdog urges restraint, calls for diplomacy to prevent crisis. The head of the International Atomic Energy Agency (IAEA), Rafael Grossi, has issued a stark warning about the potential nuclear fallout

Trump says it’s hard to tell Israel to stop

President downplays European diplomacy as Israeli jets strike over 35 Iranian missile sites US President Donald Trump has said it would be “difficult” to ask Israel to stop its ongoing airstrikes on

Modi calls Yoga a journey from ‘me’ to ‘we’

PM Modi showered praise on the Andhra Pradesh government for hosting this year’s national celebrations, commending Chief Minister N. Chandrababu Naidu and Deputy Chief Minister Pawan Kalyan for their leadership. Prime Minister

UK unites for Yoga Day

Celebrations held across iconic landmarks and campuses under theme ‘One Earth, One Health’ The Indian diaspora and local communities across the United Kingdom gathered in large numbers on Friday to mark the
Go toTop