Real pay growth continues to disappoint leading to a squeeze on pay packets

 

The latest ONS data covers the period from March 2022 to May 2022 and shows a continued tightening of the labour market, with employment increasing, unemployment and economic inactivity decreasing, and vacancies still at record high levels. 

Real time Pay-As-You-Earn data for June 2022 showed that the number of payrolled employees increased, up to 31,000, to a record 29.6 million. 

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