Rising prices see regular pay drop at fastest rate in a decadeon June 14, 2022 at 6:49 am

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Pay excluding bonuses is failing to keep up with rising prices, official statistics show.

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The number of job vacancies in the UK rose to a new record of 1.3 million from March to May, the Office for National Statistics (ONS) has said.

The unemployment rate stood at 3.8% in the February to April period.

The employment rate edged up to 75.6% although remains lower than before the pandemic, the ONS said.

Wages are failing to keep up with rising prices with regular pay – which excludes bonuses – down on the year by 2.2% when adjusted for inflation.

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