Chancellor Rachel Reeves has been urged not to delivering a triple blow to workers in her Autumn Budget. Figures out on Tuesday revealed that wage growth has plummeted to its weakest level in over three years as companies continue cutting back on recruitment.

The Office for National Statistics (ONS) reported that regular wage growth, excluding bonuses, fell to 4.8% in the three months to July, down from 5% in the preceding three months and marking the lowest figure since May 2022. Whilst wages continue to exceed inflation, this is happening at a more gradual rate, as real earnings growth - accounting for the Consumer Prices Index (CPI) - declined to 1.2%, representing the weakest point since September 2023.

The ONS stated that the unemployment rate remained steady at 4.7% in the three mo

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