MILLIONS of workers are facing a cut to pay as inflation eats into household earnings, while the unemployment rate rises.
New figures released today by the Office for National Statistics (ONS) show that regular pay in real terms fell by 3.2%.
The ONS has released its latest figures on jobs and wages in the UKGetty
The rate of UK unemployment remained at 3,7% – largely the same as in the previous three-month period, the ONS said.
It comes as the UK’s rate of inflation fell to 10.1% in January – the third month in a row that its fallen.
Prices are rising at a faster rate than pay, which means people’s incomes are squeezed.
Growth in average total pay (including bonuses) was 5.7%.
It comes as thousands of workers have gone on strike in recent months over pay.
Many are calling for higher increases to keep up with the skyrocketing prices of everyday items.