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Average UK wages fall at fastest rate for more than two decades

Inflation and soaring energy bills cause squeeze on living standards, as unemployment rises slightly

  • Analysis: Weak UK pay and jobs figures hint at tougher times ahead

Average wages in the UK are falling at the fastest rate for more than two decades as annual pay growth fails to keep pace with the rising cost of living despite record numbers of job vacancies and low unemployment.

The Office for National Statistics said annual growth in regular pay, excluding bonuses, fell by 4.5% in April after adjusting for inflation – the biggest fall since comparable records began in 2001.

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