According to a BBC news article, UK wage growth failed to keep up with the rising cost of living between November and January, new figures show.
Wages rose, but when taking rising prices into account, regular pay showed a 1.0% fall from a year earlier, as reported by the Office for National Statistics.
It comes amid concerns that the war in Ukraine will push up households’ energy and food bills even further.
The new figures also show that the number of jobless people in the UK has dropped below the pre-pandemic level. There were 1.34 million unemployed people in the 3 months to January, below the 1.36 million recorded in December to February 2020.
The unemployment rate fell to 3.9% in the most recent quarter, while job vacancies hit another record high.
The full BBC article can be accessed via this link: here.