Wednesday, May 15, 2013

Unemployment Up As Spending Squeeze Tightens

The latest employment figures show average earnings growth at its lowest level on record - intensifying the squeeze on household budgets.

The Office for National Statistics (ONS) said that wage growth, excluding bonuses, was measured at just 0.8% in March - a month where the CPI measure of inflation stood at 2.8%.

Analysts suggest the dip in wage growth is the price the labour market is paying for higher employment.