The Global Payroll Association (GPA) highlights a troubling trend in the UK job market where, despite a general rise in earnings, 23 local areas experienced substantial salary drops in the past year, with Coventry facing the sharpest decline of -16.6%. Chancellor Rachel Reeves announced an increase to the National Living Wage that will boost many workers' earnings by £1,400 annually, indicating a systemic push for wage growth. However, localized pockets of decline reveal ongoing economic disparities across the UK, despite forecasts suggesting overall earnings could rise by 15% by 2030.
Despite a national trend of rising earnings in the UK, 23 local areas experienced a decline in salaries over the past year, indicating uneven economic growth.
The Global Payroll Association's analysis revealed that Coventry witnessed the largest drop in salaries at -16.6%, showcasing significant local disparities in earnings.
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