Private sector workers face a year of getting poorer as wages trail behind the cost of living – as those in the public sector enjoy above inflation pay hikes.
Official figures showed private sector pay rose by just 2.9 per cent in the three months to April.
That was the weakest since the pandemic in 2020 – and amounts to a real-terms fall because prices are rising at a faster rate. Analysis suggests the squeeze has been going on since last autumn and will continue for months to come – adding up to roughly a year of falling living standards.
But pay settlements
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