Wages are rising 3.2% above inflation - the highest in nearly three years - as prices subside and jobs market holds steady... despite Rachel Reeves' grim claims that the economy is worse than she thou
5 months ago

Wages are rising 3.2% above inflation - the highest in nearly three years - as prices subside and jobs market holds steady... despite Rachel Reeves' grim claims that the economy is worse than she thou

Daily Mail  

Wages are rising 3.2 per cent above inflation with the jobs market holding steady, according to new figures today. Regular pay is increasing at the fastest pace in nearly three years relative to prices, after CPI inflation returned to the Bank of England's 2 per cent target. Wages are rising 3.2 per cent above inflation with the jobs market holding steady, according to new figures today The figures cast doubt on Chancellor Rachel Reeves ' grim claims that the economy is in an even worse state than she had expected ONS director of economic statistics Liz McKeown said: 'Earnings growth in cash terms, while remaining relatively strong, is showing signs of slowing again. With CPI inflation taken into account, regular earnings rose by 3.2 per cent, which is the highest since the three months to August 2021.

Inflation Cent Rachel Reeves Jobs Market  subside  rachel  cent  prices  reeves  rising  market  economy  months  inflation  earnings  nearly  steady  32  wages  worse  thou  growth  figures

History of this topic

Inflation rises AGAIN to its highest level since March: Price rises hit 2.6 per cent driven by spikes in the cost of petrol and fags to increase pressure on Chancellor Rachel Reeves
Trending News
5 days, 19 hours ago

Inflation rises AGAIN to its highest level since March: Price rises hit 2.6 per cent driven by spikes in the cost of petrol and fags to increase pressure on Chancellor Rachel Reeves

Daily Mail  

Inflation rose for the second month in a row in November, hitting 2.6 per cent to further increase pressure on Labour Chancellor Rachel Reeves over her Budget's impact on the country. Spikes in petrol and tobacco prices drove CPI to 2.6 per cent, up from 2.3 per cent in October, the Office for National Statistics said. Ms Reeves said: 'I …

Unemployment in the UK rises to 4.3% and earnings fall to 4.8%
Trending News
1 month, 1 week ago

Unemployment in the UK rises to 4.3% and earnings fall to 4.8%

Daily Mail  

Wage growth has fallen to its lowest level in more than two years while Britain's jobless rate jumped by more than expected, according to official figures. The Office for National Statistics said average regular earnings growth eased back to 4.8 per cent in the three months to September, down from 4.9 per cent in the previous three months. Earnings growth …

How will inflation affect Labour’s plans for the economy?
3 months ago

How will inflation affect Labour’s plans for the economy?

The Independent  

It’s early days, obviously, but one of the factors that helps any government “deliver” and win re-election is a healthy economy. Having repeatedly stated that they inherited the worst economic situation since the war – albeit a highly tendentious claim – Labour undoubtedly faces a challenge in achieving the electorally magical combination of low inflation, high employment, rising living standards, …

Paychecks grew more slowly this spring, a sign inflation may keep cooling
4 months, 3 weeks ago

Paychecks grew more slowly this spring, a sign inflation may keep cooling

Associated Press  

WASHINGTON — Pay and benefits for America’s workers grew more slowly in the April-June quarter than in the first three months of the year, a trend that could keep price pressures in check and encourage the inflation-fighters at the Federal Reserve. Compensation as measured by the government’s Employment Cost Index rose 0.9% in the second quarter, down from a 1.2% …

US inflation eases to 3.3% in May, defying expectations for slight rise
6 months, 1 week ago

US inflation eases to 3.3% in May, defying expectations for slight rise

Hindustan Times  

Stock markets surged Wednesday after data showed US inflation slowed in May, raising hopes the Federal Reserve will cut interest rates later this year. "The cool inflation numbers should boost investor confidence for a Fed rate cut in the second half of 2024," said Bret Kenwell, US investment analyst at trading platform eToro. With inflation slowing and other recent data …

US economic growth in first quarter falls short of expectations at 1.6%; inflation may heat up
7 months, 4 weeks ago

US economic growth in first quarter falls short of expectations at 1.6%; inflation may heat up

Hindustan Times  

The US economy expanded less than projected in the first three months of 2024 as exports and consumer spending declined, confirming the expectations of the financial markets that the Federal Reserve would postpone rate-cutting until September. The first quarter saw the US economy rise by 1.6 percent, according to the government data. The first quarter saw the world's largest economy …

Relief for Brits as wages outstrip inflation by biggest margin since 2021 despite signs jobs market is weakening… but inactivity crisis deepens
8 months, 1 week ago

Relief for Brits as wages outstrip inflation by biggest margin since 2021 despite signs jobs market is weakening… but inactivity crisis deepens

Daily Mail  

Brits have been offered some much-needed relief as figures showed wages outstripping inflation by the biggest margin in two and a half years. Regular pay rose by 2.1 per cent year-on-year in real terms in the three months to February. The Office for National Statistics said the jobless rate jumped to 4.2 per cent in the three months to February …

What’s pushing inflation down? More goods, workers and housing
1 year, 1 month ago

What’s pushing inflation down? More goods, workers and housing

Associated Press  

WASHINGTON — Long past its painful peak, inflation in the United States may be heading steadily back toward its pre-pandemic levels, without the need for further interest rate hikes by the Federal Reserve. Overall inflation didn’t rise from September to October, the first time that consumer prices collectively haven’t budged from one month to another in more than a year. …

Recession looming as jobs market weakens, says Bank rate-setter
1 year, 2 months ago

Recession looming as jobs market weakens, says Bank rate-setter

The Telegraph  

Ms Dhingra was speaking as economists said official data showing a slowdown in pay growth would fuel hopes the Bank of England has raised rates far enough to weaken the jobs market and ease a key driver behind inflation. Average weekly earnings in the three months to August were up 8.1pc compared with the same period last year, slowing from …

Inflation now driven by demands for higher wages, warn businesses
1 year, 5 months ago

Inflation now driven by demands for higher wages, warn businesses

The Telegraph  

Inflation is now being driven by higher wages as companies pass on rising salary costs to their customers, bosses have warned. The economy is slowing sharply, with the manufacturing sector shrinking and the dominant services industries running out of steam, according to the purchasing managers’ index, an influential survey from S&P Global. Price rises are slowing from last year’s highs …

Inflation stayed high last month, compounding the challenges facing the U.S. economy
1 year, 7 months ago

Inflation stayed high last month, compounding the challenges facing the U.S. economy

NPR  

Inflation stayed high last month, compounding the challenges facing the U.S. economy Enlarge this image toggle caption Justin Sullivan/Getty Images Justin Sullivan/Getty Images Inflation remained stubbornly high last month after more than a year of rising interest rates. "My feeling is that there's a gradual slowdown here, but March seemed a little too good to be true," said Omair Sharif, …

Will wages outpace inflation for long? It depends on the job
1 year, 7 months ago

Will wages outpace inflation for long? It depends on the job

CNN  

Washington, DC CNN — Wages are now finally beating inflation, according to the latest quarterly data on wage growth. Workers who switched jobs are still raking in higher wages than those who choose to stay; and employees in industries struggling to hire, such as leisure and hospitality, are also enjoying fatter paychecks, economists said. “The folks who left one company …

US hiring slows in March as world's largest economy shows signs of cooling as authorities battle inflation
1 year, 8 months ago

US hiring slows in March as world's largest economy shows signs of cooling as authorities battle inflation

Firstpost  

The labour market data is highly followed for its possible influence on the Federal Reserve’s policy choices, but analysts predict the most recent results will not be enough to cause the central bank to suspend its interest rate rises Washington, United States: US employment growth slowed for the second month in a row in March, according to government statistics released …

US adds a healthy 236,000 jobs despite Fed’s rate hikes
1 year, 8 months ago

US adds a healthy 236,000 jobs despite Fed’s rate hikes

Associated Press  

WASHINGTON — America’s employers added a solid 236,000 jobs in March, suggesting that the economy remains on solid footing despite the nine interest rate hikes the Federal Reserve has imposed over the past year in its drive to tame inflation. We do see that the job market is cooling, but it’s still resilient.’’ In another sign that might reassure the …

Inflation cooled in February, yet remains stubbornly high
1 year, 9 months ago

Inflation cooled in February, yet remains stubbornly high

CBS News  

Credit card debt soars as companies try to lure more customers with perks Inflation around the U.S. rose at an annual rate of 6% rate in February, cooling from the prior month yet posing a dilemma for the Federal Reserve as it copes with the double whammy of stubbornly high inflation and instability in the banking sector. The inflation data …

The job market slowed last month, but it's still too hot to ease inflation fears
1 year, 9 months ago

The job market slowed last month, but it's still too hot to ease inflation fears

NPR  

The job market slowed last month, but it's still too hot to ease inflation fears Enlarge this image toggle caption Mario Tama/Getty Images Mario Tama/Getty Images Hiring cooled last month from its sizzling pace in January, but the U.S. job market remains unusually hot, with an unemployment rate hovering near a half-century low. The report shows January's job gains were …

An unexpected job surge confounds the Fed’s economic models
1 year, 10 months ago

An unexpected job surge confounds the Fed’s economic models

Associated Press  

WASHINGTON — Does the Federal Reserve have it wrong? “Like $20 bills on the sidewalk and free lunches, falling inflation paired with falling unemployment is the stuff of economics fiction.” In economic models used by the Fed and most mainstream economists, a job market with strong hiring and a low unemployment rate typically fuels higher inflation. Chair Jerome Powell has …

Wages rise at fastest pace in two decades but fall behind inflation
1 year, 11 months ago

Wages rise at fastest pace in two decades but fall behind inflation

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The proportion of working-age people who were unemployed also …

Wages rose by an average 3.2% last year, inflation was 10%
1 year, 11 months ago

Wages rose by an average 3.2% last year, inflation was 10%

Dutch News  

Wages rose by an average of 3.2% last year, with the biggest increase – more than 5% – agreed for teachers, national statistics office CBS said on Thursday. Inflation averaged at around 10% last year and the difference between it and the average wage rise is the biggest recorded by the CBS since it started publishing average salary increases in …

Wages rose by an average 3.2% last year, inflation was 10%
1 year, 11 months ago

Wages rose by an average 3.2% last year, inflation was 10%

Dutch News  

Wages rose by an average of 3.2% last year, with the biggest increase – more than 5% – agreed for teachers, national statistics office CBS said on Thursday. Inflation averaged at around 10% last year and the difference between it and the average wage rise is the biggest recorded by the CBS since it started publishing average salary increases in …

The grim charts that show how the British economy will lag behind its main rivals
2 years, 1 month ago

The grim charts that show how the British economy will lag behind its main rivals

The Telegraph  

The UK economy will do considerably worse than most of its closest competitors over the next few years, new forecasts from the OECD suggest. This means there’s little hope of respite for British families already facing the fastest rising food costs in 42 years, soaring mortgage bills and falling real incomes. The grim outlook is laid out in charts from …

Inflation hits new record high of 10.7% in Europe, slowing economy
2 years, 1 month ago

Inflation hits new record high of 10.7% in Europe, slowing economy

India TV News  

Highlights Natural gas prices skyrocketed in the wake Russia's invasion of Ukraine A survey of professional forecasts showed expectations for inflation next year rose to 5.8 per cent The economy had showed growth of 0.2 per cent in the July-September quarter Inflation hit a new record in the 19 countries that use the euro currency, fuelled by out-of-control prices for …

Inflation spikes again to seven per cent
2 years, 3 months ago

Inflation spikes again to seven per cent

Deccan Chronicle  

New Delhi: Staying above the central bank’s comfort zone of 2-6 per cent for the eighth consecutive month, India’s retail inflation–as measured by the Consumer Price Index –surged to 7 per cent in August due to higher food prices, while the factory output, measured on the Index of Indus-trial Production, witnessed a growth of 2.4 per cent in July—still at …

UK inflation hits 10% as cost-of-living crisis accelerates
2 years, 4 months ago

UK inflation hits 10% as cost-of-living crisis accelerates

CNN  

CNN Business — Inflation in the United Kingdom hit a new 40-year high last month, rising above 10% for the first time since 1982 and piling further pain on households already struggling to pay their bills. Soaring food prices — up 12.7% since July 2021 — were the largest single contributor to the acceleration in inflation, the ONS said. “All …

Wages still increasing, but well below inflation
2 years, 4 months ago

Wages still increasing, but well below inflation

NL Times  

The wage increases employers and trade unions set down in collective labor agreements were again relatively high last month. According to figures from AWVN, the most important advisor to Dutch employers in employment conditions, unions and employers concluded 18 collective labor agreements in July. Due to several late notifications of collective labor agreements, the AWVN adjusted June’s monthly average upward. …

How high is inflation and what causes it? What to know
2 years, 4 months ago

How high is inflation and what causes it? What to know

Live Mint  

U.S. inflation eased slightly to 8.5% in July, but remained close to a four-decade high despite cooling energy prices. Higher prices in one sector also don’t necessarily lead to general inflation across the economy. The readings, however, show that price increases are widespread and well above policy makers’ targets for annual inflation, which hover around 2% on average. Entrenched inflation …

Bankers get inflation-busting pay rises while low-income workers see earnings collapse
2 years, 4 months ago

Bankers get inflation-busting pay rises while low-income workers see earnings collapse

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Centre for Economics and …

US job growth surges, cooling recession fears
2 years, 4 months ago

US job growth surges, cooling recession fears

Al Jazeera  

The United States unemployment rate is at a 50-year low of 3.5 percent, data showed on Friday. US employers added more than double the number of jobs forecast, illustrating rock-solid labor demand that tempers recession fears and suggests the Federal Reserve will press on with steep interest-rate hikes to thwart inflation. Nonfarm payrolls jumped 528,000 in July, a broad advance …

US economy transitions to slower growth as inflation weighs on consumers
2 years, 4 months ago

US economy transitions to slower growth as inflation weighs on consumers

Live Mint  

The U.S. economy is enduring a rocky transition from an exceptionally strong recovery to a steep slowdown as rising inflation and interest rates weigh on consumers and businesses. The Federal Reserve’s preferred inflation gauge rose 6.8% in June from the year before, the sharpest rise since January 1982, the Commerce Department said Friday. Friday’s Labor Department report on wages “is …

EXPLAINER: Why US inflation is so high, and when it may ease
2 years, 5 months ago

EXPLAINER: Why US inflation is so high, and when it may ease

Associated Press  

WASHINGTON — Inflation’s relentless surge didn’t merely persist in June. Even if you toss out food and energy prices — which are notoriously volatile and have driven much of the price spike — so-called core inflation soared 5.9% over the past year. The inflation of the 1970s and early 1980s peaked at 14.8% in March 1980 before the Fed exorcized …

Why is inflation so high, and when will it ease?
2 years, 5 months ago

Why is inflation so high, and when will it ease?

LA Times  

Inflation’s relentless surge didn’t merely persist last month. Even if you toss out food and energy prices — which are notoriously volatile and have driven much of the price surge — so-called core inflation soared 5.9% over the last year. The inflation of the 1970s and early 1980s peaked at 14.8% in March 1980 before the Fed exorcized high prices …

Real wages plunge at record rate as cost-of-living crisis takes hold
2 years, 6 months ago

Real wages plunge at record rate as cost-of-living crisis takes hold

The Independent  

Real pay has fallen at a record rate, with public sector workers seeing a particularly big hit to their earnings while bankers toasted “extremely high” bonuses, official figures show. Public sector workers saw their wages rise 1.5 per cent in the three months to April compared with a year earlier. “There is not yet any sign of the economic slowdown …

US inflation jumped 8.5% in past year, highest since 1981
2 years, 8 months ago

US inflation jumped 8.5% in past year, highest since 1981

Associated Press  

WASHINGTON — Inflation soared over the past year at its fastest pace in more than 40 years, with costs for food, gasoline, housing and other necessities squeezing American consumers and wiping out the pay raises that many people have received. The Labor Department said Tuesday that its consumer price index jumped 8.5% in March from 12 months earlier, the sharpest …

EXPLAINER: Why US inflation is so high, and when it may ease
2 years, 8 months ago

EXPLAINER: Why US inflation is so high, and when it may ease

Associated Press  

WASHINGTON — Another month, another four-decade high for inflation. Back in December 2020, the Fed’s policymakers had forecast that consumer inflation would stay below their 2% annual target and end 2021 at around 1.8%. For months, Fed Chair Jerome Powell and some others characterized higher consumer prices as merely “transitory” — the result, mainly, of shipping delays and temporary shortages …

U.S. inflation jumped 8.5% in past year, highest since 1981
2 years, 8 months ago

U.S. inflation jumped 8.5% in past year, highest since 1981

LA Times  

Gas prices in Westchester were above six dollars on March 13. The Labor Department said Tuesday that its consumer price index jumped 8.5% in March from 12 months earlier, the sharpest year-over-year increase since December 1981. For the record: An earlier version of this story said consumer inflation jumped 7.9% over the past year, the sharpest spike since 1982. Even …

Inflation, cost-of-living increases leave people struggling to afford everyday items
2 years, 9 months ago

Inflation, cost-of-living increases leave people struggling to afford everyday items

ABC  

Global prices and interest rates are on the move. Key points: Last year in Australia inflation was officially 3.5 per cent while wages increased only 2.1 per cent The price of vegetables increased by 6.1 per cent and petrol has gone up 32.3 per cent SPC said some of its product prices may go up more than 10 per cent …

Wages growth is starting to pick up, but workers like Linda feel left behind as living costs rise faster
2 years, 10 months ago

Wages growth is starting to pick up, but workers like Linda feel left behind as living costs rise faster

ABC  

The official measure of base pay rates shows they are growing at their fastest pace since the pandemic started, but wages growth varies wildly by industry and occupation and average pay increases are still trailing the rising cost of living. Key points: ABS figures show base pay rose 0.7 per cent in the December quarter and 2.3 per cent over …

How inflation and tangled supply lines are gripping economy
2 years, 10 months ago

How inflation and tangled supply lines are gripping economy

Associated Press  

WASHINGTON — Since the pandemic erupted two years ago, Forest Ramsey and his wife, Kelly, have held the line on prices at their gourmet chocolate shop in Louisville, Kentucky. Yet the key trends that have sent prices soaring — higher wages, parts shortages, rent increases, robust consumer spending — won’t likely fade anytime soon. Neil Dutta, an economist at Renaissance …

EXPLAINER: Why US inflation is so high, and when it may ease
2 years, 10 months ago

EXPLAINER: Why US inflation is so high, and when it may ease

Associated Press  

WASHINGTON — Last year, it was a nasty surprise. In December 2020, the Fed’s policymakers had forecast that consumer inflation would stay below their 2% annual target and end 2021 at around 1.8%. For months, Fed Chair Jerome Powell and others characterized higher consumer prices as merely a “transitory” problem — the result, mainly, of shipping delays and temporary shortages …

US sees highest increase in inflation in 40 years fueled by 7.5% surge in consumer prices
2 years, 10 months ago

US sees highest increase in inflation in 40 years fueled by 7.5% surge in consumer prices

India Today  

U.S. consumer prices rose solidly in January, leading to the biggest annual increase in inflation in 40 years, which could fuel financial markets speculation for a 50 basis points interest rate hike from the Federal Reserve next month. STRONG UNDERLYING INFLATION Excluding the volatile food and energy components, the CPI increased 0.6% last month after rising 0.6% in December. "The …

Inflation soars to highest level in almost 30 years
2 years, 11 months ago

Inflation soars to highest level in almost 30 years

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Inflation rose to 5.4 per …

US inflation reaches highest level in four decades as consumer prices jump 7%
2 years, 11 months ago

US inflation reaches highest level in four decades as consumer prices jump 7%

Hindustan Times  

Inflation jumped at its fastest pace in nearly 40 years last month, a 7% spike from a year earlier that is increasing household expenses, eating into wage gains and heaping pressure on President Joe Biden and the Federal Reserve to address what has become the biggest threat to the U.S. economy. US President Joe Biden issued a statement arguing that …

EXPLAINER: Why US inflation is so high, and when it may ease
2 years, 11 months ago

EXPLAINER: Why US inflation is so high, and when it may ease

Associated Press  

WASHINGTON — At first, it didn’t even register as a threat. “Prices are increasing broadly throughout the economy, and the Federal Reserve has been caught off-guard by the extent of inflation,’' said Gus Faucher, chief economist at PNC Financial. Barely more than a year ago, the Fed had forecast that consumer prices would end 2021 only about 1.8% higher than …

UK inflation: Prices rise at fastest pace in 10 years as economy stalls
3 years ago

UK inflation: Prices rise at fastest pace in 10 years as economy stalls

CNN  

London CNN Business — Talk of stagflation has been brewing for months. Tombs said the shock inflation numbers are “uncomfortably high” for the Bank of England, which would normally respond to surging inflation by hiking interest rates from the record low of 0.1%. “The quick ascent of … inflation over the last four months probably will not panic the into …

US economists see higher wages feeding inflation for 3 years
3 years ago

US economists see higher wages feeding inflation for 3 years

Al Jazeera  

A new survey shows nearly three-quarters of US economists don’t see inflation falling to the Fed’s target 2-percent rate until the second half of 2023 or later. Nearly three quarters – 71 percent – of the 48 economists surveyed see the Federal Reserve’s preferred inflation gauge – Personal Consumption Expenditures minus food and energy – not falling to or below …

EXPLAINER: Why US inflation is so high, and when it may ease
3 years, 1 month ago

EXPLAINER: Why US inflation is so high, and when it may ease

Associated Press  

WASHINGTON — Inflation is starting to look like that unexpected — and unwanted — houseguest who just won’t leave. But they didn’t do nearly as much stimulus.’’ In a statement Wednesday, Biden acknowledged that “inflation hurts Americans’ pocketbooks, and reversing this trend is a top priority for me.’’ But he said his $1 trillion infrastructure package, including spending on roads, …

Column: Inflation has spiked. Don’t freak out
3 years, 1 month ago

Column: Inflation has spiked. Don’t freak out

LA Times  

Federal Reserve Chairman Jerome H. Powell is in the hot seat over what his board can do about inflation. — Economist Ian Shepherdson Price hikes were seen in “shelter, used cars and trucks, and new vehicles, the indexes for medical care, for household furnishing and operations, and for recreation.” Among the few safe harbors cited by the BLS were airline …

Reserve Bank sees wage growth hitting fastest pace in years — by 2023
3 years, 1 month ago

Reserve Bank sees wage growth hitting fastest pace in years — by 2023

ABC  

The Reserve Bank says wages growth could pick up to its highest pace in years as the economy recovers from the COVID era. Key points: The Reserve Bank is upbeat about the pace of economic recovery It anticipates wages growing at 3 per cent by late 2023, which would be the fastest pace in a decade It's not too concerned …

US wages jump by the most in records dating back 20 years
3 years, 1 month ago

US wages jump by the most in records dating back 20 years

Associated Press  

WASHINGTON — Wages jumped in the three months ending in September by the most on records dating back 20 years, a stark illustration of the growing ability of workers to demand higher pay from companies that are desperate to fill a near-record number of available jobs. Workers have gained the upper hand in the job market for the first time …

Discover Related