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Second largest fall in real wage growth this year while unemployment rate ticks up | Business News
The UK recorded the second biggest drop in real wage growth this year this year in October while the unemployment rate also rose, according to the latest official figures.
The Office for National Statistics (ONS) reported that wage growth was 4.2% weaker when taking into account the effect of CPI inflation – after 3.7% last month.
A low of 4.6% was recorded in April – shortly after rising inflation was exacerbated by Russia’s invasion of Ukraine in late February.
The unemployment rate, as reported by the ONS, rose to 3.7% in the three months to October.