Wages continue to fall behind soaring inflation, the UK national statistics service has said UK household incomes are facing the fastest decline in over a decade as wages lag behind spiraling inflation and families struggle to pay their bills, the Office for National Statistics (ONS) reported on Tuesday. Labor market data showed total income growth in real terms, adjusted for inflation, dropped by 3% between December 2022 and February 2023, while regular pay fell by 2.3% over the same period. The figures represent the steepest decline in regular pay since 2009, when average weekly wages slumped 4.5%, the ONS said.
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