Cost-of-living crisis: Worksop wage growth falls just below inflation

Across the UK, real terms wages have fallen again, with strike action across a range of industries taking place.

The Trades Union Congress said working people “have been pushed to breaking point” and urged the Government to engage in meaningful pay talks with unions.

Office for National Statistics figures show monthly median pay for employees in Bassetlaw sat at £2,039 in November – up from £2,007 the month before.

Monthly pay in the area has risen by 9 per cent in the last year, as the rising cost of living hits people’s wallets.

But the Consumer Prices Index inflation accounting for owner occupier’s housing costs – which the ONS uses to calculate real-terms pay – sat at 9.6 per cent in the year to October, the highest since records began in 1989.

It means wage growth in Bassetlaw has roughly matched inflation in the last year.

Across the UK, real-terms pay between August and October fell by 2.7 per cent compared with the same period the year before, slightly above the record 3 per cent drop seen between April and June.

Ben Harrison, director at the Work Foundation, said workers face “stark challenges” because of inflationary pressures on their pay packets and are being forced to make difficult decisions, including whether to turn the heating on as freezing temperatures bite.

The ONS figures also show strike action led to 417,000 days of work being lost in October across the UK, the highest level in a decade.

Strikes have included many public sector employees, such as teachers, ambulance staff, and nurses, while firefighters and fire control staff are also voting on strike action.

The ONS data revealed a widening gap between private and public sector pay across the country, growing by 6.9 per cent and 2.7 per cent respectively, among the biggest differences seen on record.

Frances O’Grady, TUC general secretary, said ministers must increase pay packets immediately, starting with a pay rise for public sector workers to match the cost of living.

“They are more interested in playing political football with disputes than resolving them.”

Meanwhile, unemployment continued to gradually rise after reaching its lowest point since 1974 earlier this year.

The jobless rate sat at 3.7 per cent in the three months to October, up from 3.6 per cent in the previous quarter.

In the East Midlands, unemployment rose from 2.8 per cent in the three months to June to 3.3 per cent in the following quarter.

Chancellor Jeremy Hunt said high inflation and Vladimir Putin’s invasion of Ukraine continue “to plague economies around the world”.

He said: “To get the British economy back on track, we have a plan which will help to more than halve inflation next year, but that requires some difficult decisions now.

“Any action that risks embedding high prices into our economy will only prolong the pain for everyone and stunt any prospect of long-term economic growth.

“We are committed to helping people back into work and helping those in employment to raise their incomes, progress in work, and become financially independent.”