The UK has recorded its second largest fall in real wage growth since records began more than 20 years ago, in addition to yet another drop in job vacancies, new data has revealed.
The Office for National Statistics (ONS) reports that, in real terms, (adjusted for inflation) over the year, total and regular pay both fell by 2.7%; this is slightly smaller than the record fall in real regular pay we saw in April to June 2022 (3.0%) but still remains among the largest falls in growth since comparable records began in 2001..
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