Wages keep up with inflation in just one industry, ONS figures show

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Pay growth has only kept up with inflation in one industry, official figures show

Pay growth has been similarly low in arts and recreation, mining, and power and water. A fifth of workers in the arts and entertainment industry earn less than two-thirds of the national median hourly earnings.sector. While bonuses did boost wages in finance, total pay growth in the industry has now also fallen below inflation to 6.3%.

Despite pay being out of line with inflation, the overall wage growth may have been caused by a record number of job vacancies, the ONS said, as employers compete to attract or keep workers.Many industries with the largest pay growth have also had a rise in the number of job vacancies. A closely watched survey of businesses on Tuesday showed the private sector economy is set to shrink again this month but at a slightly slower pace than last month.

 

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