Three years of pay freezes while prices continue to rise

As the cost of living continues to rise, pay freezes are leaving many Brits with a bleak outlook, according to new research from uSwitch.com, the independent price comparison and switching service, which reveals that less than three in ten workers are expecting a pay rise this year.  To make matters worse, 65% have suffered recent pay freezes – 15% haven’t seen a pay rise for at least three years.

But even for the lucky few expecting a pay rise, there is likely to be little to celebrate with the average pay rise expected to be 2.1% – under half the rate of inflation.

Cash strapped consumers are also facing a 5.9% hike in rail fares and together with the impact of last year’s 21% increase in energy bills, any pay rises may be swallowed up.

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