BRITONS’ PAY GROWTH GOES INTO REVERSE FOR FIRST TIME

THE squeeze on household finances in Britain was laid bare today as pay growth fell for the first time since records began.

Data from the

Office for National Statistics for the quarter to June showed total nominal pay fell by 1.2% on the year and regular nominal pay fell by 0.2% — the first negative pay growth since records began in 2001. Pay packets are shrinking as companies slash their budgets to cope with the fallout of coronavirus. The number of people in work in Britain has suffered the biggest drop since 2009 amid mass job cuts.