has narrowed and narrow quite significantly. regular pay, a record 7.8% higherfrom april tojune than it was last year in that same period. taking into account inflation, wages are only grown by no now. there is a point, possibly as soon as next month, when wages will start to keep up with inflation again. that is crucial notjust for the cost of living, but for the decisions that the bank of england is going to make as well. the prime minister reacting to these figures today, saying light is at the end of the tunnel for struggling households. the tunnel for struggling households. . ., , ., , , ., households. what is happening on the em-lo ment households. what is happening on the employment market? households. what is happening on the employment market? we households. what is happening on the employment market? we have - households. what is happening on the employment market? we have seen l households. what is happening on the employment market? we have seen a j employment market?
that than others. we know the price hikes have largely be concentrated on staples like food and energy, so it is those on the tightest budgets that have felt the most pain. the minimum wage has gone up, but when you take into account inflation and tax changes those lower down the income scale may be as much as 15% worse off than they were prior to the pandemic. even those in the middle of the income scale are 10% worse off and if you are in the north east you have been particularly hard hit. in london you may be better off on the whole. but bearin may be better off on the whole. but bear in mind those borrowers as well, typically aged between 30 to 60 whose payments may have gone up ljy 60 whose payments may have gone up by £100 per month. who is better off? if you are older and you have got savings that make up your income or have a good pension you may be benefiting from higher interest rates. as for the rest of us, the bad news is the economists don t think our future will fully re
hardest, even though we have seen benefits wise, the minimum wage rise, economists calculate if you take into account inflation and also tax changes, they may be up to 15% worse off than they were prior to the pandemic. the average person is 5% to 10% worse off, if you are a borrower typically aged between 30 to 60, higher mortgage bills, you are going to feel an extra hit on top of that. those in the northeast, worst affected, those in london, most are shielded. there are other winners. if you are older, a saver with a generous pension, you may not be worse off at all. for the rest of us, the question when is this going to get better? i m afraid to say economists say it may take a couple of years, hence the pressure is on on all politicians in the run up to the election, people will want to know how, when, are you going to make us better off? make us better off? dharshini, thanks very make us better off? dharshini, thanks very much. the mayor of the west midlands has
related bonuses and other supplements. which means they are in the highest top 2% of earners in the economy. the highest top 296 of earners in the econom . ,., ., ., the highest top 296 of earners in the econom . ., ., ., ., economy. important to point out that the bma says economy. important to point out that the bma says that economy. important to point out that the bma says that although - economy. important to point out that the bma says that although it - economy. important to point out that the bma says that although it says i the bma says that although it says consultants at the zero years, they will have done six years training and then another 1a years or so to get to that level. despite them being amongst the highest earners in the economy, pay has fallen, once you take into account inflation. the bma often use account inflation. the bma often use a figure of 35% since 2008, but that is their take home pay, so it takes into account deductions made for tax and pension con