Inequality is on the rise again in the UK, with pay growing fastest for the highest earners, while inflation hits those on low incomes hardest.
Figures published last week by the Office for National Statistics showed average earnings in finance were 25 per cent higher in cash terms in March than the pre-pandemic level, outstripping the 15 per cent growth seen over the same period in mean earnings across the economy as a whole.
In two other high-paying sectors — professional services and IT — pay growth was almost as strong, at 21 per cent, and was driven by pay rises at the top, with the mean rising faster than the median.
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