It will come as a relief to cash-strapped households who have struggled amid a lengthy cost-of-living crisis, with regular wages having trailed behind inflation for nearly two years.
The latest figures showed that the rate of unemployment lifted to its highest level since July to September 2021, at 4.3% in the three months to July, up from 4.2% in the previous three months, as the number of unemployed rose 159,000 quarter-on-quarter to 1.5 million. And more timely figures show the number of workers on UK payrolls edged 1,000 lower to 30.1 million last month.TUC general secretary Paul Nowak said the Government “is in denial”.
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