Sky News
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Cost of Living: As mortgage rates spike workers demand higher salaries
Posted
July 11, 2023
Views
11,640
Likes
36
Comments
30
Engagement
0.57%
July 11, 2023
11,640
36
30
0.57%
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1:57Now PlayingLabour market data from the Office for National Statistics showed average earnings (excluding bonuses) rose 7.3% in the three months to May, the highest on record.
Simultaneously, the average two-year fixed mortgage rate now being demanded of borrowers has climbed above the levels seen last year when financial markets baulked at the government's mini-budget.
Sky News' business correspondent Paul Kelso has been to an Amazon plant in Coventry, where workers on the picket line are demanding higher salaries to sustain the spike in prices.
#costofliving #mortgagerates #skynews
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