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Year-long pay squeeze comes to an end

byCT Report
15/05/2018
in Uncategorized
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Canada : Wages rose at an annual rate of 2.9% in the three months to March, faster than inflation for the first time in more than a year, official figures show.

Over the same three-month period, the inflation rate was 2.7%.

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Inflation started to overtake wages in February last year, squeezing incomes.

The Office for National Statistics (ONS) also said unemployment fell by 46,000 to 1.42 million, with the jobless rate falling to 4.2% the lowest since 1975.

Despite the news of a pick-up in wage growth, the general secretary of the TUC, Frances O’Grady said: “Working people are still not getting a fair deal. Millions of jobs do not pay a real living wage. And average weekly pay is still worth much less than a decade ago.”

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