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Podcast: Beyond Currency
Episode: 16 November 2022 - Real wages continue to fall
Description: Yesterday's October employment report showed that core wages, not including bonuses, rose at their fastest level for twenty years.
Despite the pace of the increase, real wages fell at a record rate as they still failed to keep pace with inflation.
Prime Minister, Rishi Sunak, speaking at the G20 gathering of world leaders in Bali, urged bosses to curb their pay, which, while it would not have any material effect on overall wage inflation, would show a degree of solidarity with employees.
Sunak went on to be critical of nurses' demands for a double-digit pay award which, if not met...