Connect with us

Economics

Brits Suffer Pay Cut As Inflation Outpaces Wage Growth

Brits Suffer Pay Cut As Inflation Outpaces Wage Growth

Despite a nominal year-on-year wage growth of at least 4 percent for each month in…

Published

on

This article was originally published by Zero Hedge

Brits Suffer Pay Cut As Inflation Outpaces Wage Growth

Despite a nominal year-on-year wage growth of at least 4 percent for each month in 2022, the real earnings of employees in the United Kingdom are decreasing due to Inflation, as data provided by the Office of National Statistics shows.

You will find more infographics at Statista

As Statista’s Mathias Brandt details below, the last time growth of real wages turned negative was from April to July 2020, when the first Covid-19-related lockdowns hit the UK’s economy.

After a relatively quick recovery, the growth rates of real earnings stayed positive for more than a year.

This held up until November 2021 when shortages of goods and growing inflation took a hold of the UK.

Since the Russian invasion of Ukraine in February of 2022, rising prices for energy and food products have only increased this trend.

All of which probably helps explain why UK’s Misery Index is at its highest since 1992…

More information regarding the UK’s economy, on employees and salaries, companies, trade and investment in more than 44 different industries can be found in the UK Industries Reports by Statista.

Tyler Durden
Sat, 06/18/2022 – 07:35

Economics

Palladium price outlook as Russia looks to limit production

Jonathan Barratt is the CEO of CelsiusPro Australia, a boutique climate risk InsurTech company. In an interview with CNBC, Mr. Barratt raised the interesting…

Continue Reading
Economics

CoreLogic says home prices are falling faster; CBA says the economy is next

CoreLogic says the slump in Australian property values has probably gone airborne. And you can pop your masks back on … Read More
The post CoreLogic…

Continue Reading
Economics

Household Income Distribution in the U.S. Visualized as 100 Homes

This visual breaks down U.S. household income categories as 100 homes, based on the most recent data from the U.S. Census Bureau.
The post Household Income…

Continue Reading

Trending