(Picture: PA Archive)
The growing squeeze on people’s pay packets was laid bare on Tuesday as official figures showed real wages are dropping faster than at any time since records began.
Although regular pay excluding bonuses grew by 4.3 per cent between March and May 2022, that is less than half the rate of inflation in May of 9.1 per cent. Growth in average total pay including bonuses was 6.2 per cent but still some way short of the current rate of inflation.
