Millions hit by pay cut as real wages fall 3.1% and unemployment remains low

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Millions hit by pay cut as real wages fall 3.1% and unemployment remains low
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Pay cut for millions of workers as real wages fall 3.1%

Chancellor Jeremy Hunt said: "In tough times unemployment remaining close to record lows is an encouraging sign of resilience in our labour market.

"The best thing we can do to make people’s wages go further is stick to our plan to halve inflation this year."Many are calling for higher increases to keep up with the skyrocketing prices of everyday items.The ONS said that there were 467,000 working days lost because of labour disputes in November 2022.

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