UK sees wages drop for first time in three years

Salaries in the UK have dropped for the first time in almost three years as employers continue not giving big pay rises despite the rise of inflation. The jobs market was otherwise healthy with record employment rates and the lowest unemployment since 1975. But the continued squeeze on Britons’ living standards marks a turning point for the UK economy: real wages fell sharply after the financial crisis but had been recovering slowly in recent years. The number of full-time employees surged while part-time and self-employment fell.