Unemployment in the UK fell back to its lowest level since July 2020 in the three months to November, however the fall to 4.1% was overshadowed by a fall in wages to 3.8%. Inflation
– unemployment in the UK fell back to its lowest level since July 2020 in the three months to November, however the fall to 4.1% was overshadowed by a fall in wages to 3.8%, putting further pressure on incomes as the cost-of-living squeeze was exacerbated further. This is a key concern, especially with upward pressure on prices. Since the middle of last summer when wage growth rose by 7.4%, the level of increase has been in decline, with little sign of a pick-up.
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