Earnings have increased in the East Midlands over the last 12 months, but are failing to keep up with the rate of inflation, helping to create what the TUC calls "the worst pay squeeze in modern history".
Reach鈥檚 Data Unit has analysed the Government鈥檚 latest Pay As You Earn (PAYE) figures to explore how the cost of living crisis is hitting the region.
Consumer price inflation (CPI) rose by 9.4% in the year to June 2022, the latest data available. The average monthly salary in the 海角视频 has increased by 6.6% between June 2021 and June 2022.
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But the latest PAYE figures show salaried employees in Nottingham earned an average of 拢1,919 a month in June this year. That鈥檚 an increase of 4.0% since June 2021, when the average salary in the city was 拢1,845 a month.
In North Nottinghamshire, average salaries increased by 6.4%, while in South Nottinghamshire they increased by 5.5%.
Salaried employees in Leicester earned an average of 拢1,822 a month in June. That鈥檚 an increase of 7.1% since June 2021, when the average salary in our city was 拢1,702 a month.
Across Leicestershire and Rutland as a whole, salaries have increased by 4.8% over the last 12 months to an average of 拢2,090 per month.
Salaried employees in Derby earned an average of 拢1,871 a month in June. That鈥檚 an increase of 6.2% since June 2021, when the average salary in the city was 拢1,762 a month.
In East Derbyshire, average salaries increased by 6.8%, while in South and West Derbyshire they increased by 6.1%.
The data only covers employees who are paid through PAYE.
It therefore doesn鈥檛 include people who receive their income from self-employment or via pensions and investments.
With pay increases failing to keep up with inflation, people are seeing their salaries decrease in real terms.
Trade Union Congress General Secretary, Frances O鈥橤rady said: 鈥淲orking families need financial security.
鈥淏ut real wages are falling at the fastest rate since current records began.
鈥淲e can鈥檛 go on like this. 海角视频 workers are suffering the worst pay squeeze in modern history.
鈥淭he priority for the country must be to get wages rising across the economy 鈥 not tax cuts.
鈥淭hat means decent pay rises for public servants, a higher minimum wage and stronger rights for working people and their unions.鈥
Chancellor of the Exchequer, Nadhim Zahawi said: 鈥淭oday鈥檚 figures underline how strong our jobs market continues to be, providing encouragement in uncertain economic times 鈥 as we know being in work is one of the best ways for people to get on and support their families.
鈥淚 am acutely aware that rising prices are affecting how far people鈥檚 hard-earned income goes, so we are providing help for households through cash grants and tax cuts.
鈥淲e鈥檙e working alongside the Bank of England to bear down on inflation, providing support worth 拢37 billion this financial year for the cost of living, and investing in skills to help people get into work and progress.鈥
