Channel 4 News
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Why a slow economy but soaring pay poses problem for UK
Posted
September 12, 2023
Views
54,949
Likes
475
Comments
344
Engagement
1.49%
September 12, 2023
54,949
475
344
1.49%
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9:57Now PlayingWill soaring wages and a stalling economy pose a problem for the UK?
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Wages are going up at the fastest rate on record, finally outstripping inflation. But at the same time, unemployment is moving up and employment is falling as higher interest rates squeeze activity.
The boom in wages will create a dilemma for the government: pensions are due to go up in line with them - almost certainly outstripping the increase in benefits for working age people - and boosting the argument over which generation benefits the most from public spending.
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