Half of workers saw real terms pay cut last year, study says

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Half of workers suffered a real terms pay cut last year, research suggests, with average weekly earnings being “hugely disrupted” by the number of people furloughed.

The report by Resolution Foundation stated official data suggesting 2020 saw the fastest wage growth in nearly two decades was “too good to be true”.

It had previously been reported there was an average weekly earnings growth of 4.5 per cent in late 2020.

Growth among higher-paid workers was relatively strong but weaker among the lower-paid, the report said.

The foundation also found that the median pay rise was 0.6 per cent last autumn, a real terms reduction of 0.2 per cent, meaning at least half of all workers experienced a pay cut.

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