Residing requirements endure sharpest drop since 2013

Good morning. 

There’s one more reminder of the cost-of-living disaster this morning, with the most recent ONS figures exhibiting wage progress is lagging effectively behind surging inflation.

While common earnings excluding bonuses rose 4.1pc in February from a yr in the past, when adjusted for costs they dropped 1.3pc – the largest fall since 2013.

There had been additionally indicators the labour market restoration might be operating out of steam. While unemployment dropped to three.8pc within the quarter to February and vacancies remained at a report excessive, payrolls elevated by simply 35,000 in March – effectively under expectations.

The figures spotlight the cost-of-living crunch that is anticipated to hit demand and progress for the remainder of the yr. On high of rising costs and lagging wages, households are additionally grappling with latest power invoice and tax rises.

5 issues to begin your day 

1) How Britain is preventing to grow to be a lithium powerhouse  Inside the race to mine and refine very important automobile battery ingredient within the UK 

2) War in Ukraine sparks surge in meals stockpiling  Customers race to purchase tinned tomatoes, tea and pasta as menace of battle looms 

3) Heathrow faces strain to drop rise in touchdown charges  Some 4.2m passengers used London’s hub airport in March, the best stage for the reason that begin of the pandemic 

4) Brussels backs £6.3bn international takeover of defence behemoth Meggitt  Sale of Typhoon components maker strikes a step nearer after backing from EU regulator

5) M&S slashes the worth on on a regular basis necessities amid cost-of-living disaster  Marks & Spencer will decrease costs throughout on a regular basis staples together with milk and bread

What occurred in a single day 

Asian markets dropped decrease as we speak as Japanese and Hong Kong shares plummet. The Nikkei 225 is sitting at -1.36 per cent, whereas the Hang Seng is down 0.64 per cent.

Coming up as we speak

  • Corporate: Asos, easyJet (interims), Liontrust Asset Management, Moneysupermarket.com, Pennon Group (buying and selling assertion)
  • Economics: BRC retail gross sales (UK), unemployment fee (UK), claimant rely change (UK), common earnings (UK), client worth index (US, Ger), ECB Bank Lending Survey (EU), month-to-month funds assertion (US)

Source hyperlink

Leave a Reply

Your email address will not be published.