Jobs data from the Office for National Statistics shows real terms pay, which accounts for inflation, fell 2.8% between March and May
But as the ONS head of labour market and household statistics David Freeman put it, today’s data offers a “mixed picture” for the UK labour market:
The new chancellor Nadhim Zahawi has reacted to both the employment figures and hit to pay, but has tried trying to focus on apparent strength of the UK jobs market:
Today’s figures underline how strong our jobs market continues to be, providing encouragement in uncertain economic times – as we know being in work is one of the best ways for people to get on and support their families.
I am acutely aware that rising prices are affecting how far people’s hard-earned income goes, so we are providing help for households through cash grants and tax cuts.
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