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Growth, unemployment, inflation, labour market, living standards, real wage
Click to read the article below and then answer the questions:
Underlying UK wage growth lower than headline figures, think-tank warns
What is meant by growth?
What is the current growth rate in the UK? Is it in line with the forecasted growth?
What is the current inflation rate?
Evaluate the effect that rising inflation above real wage has had on: welfare; cost of living; living standards; savings
What should the Bank of England do in order to combat the rising cost of living/rising inflation?
Noaf Al-Diraa, Alperton Community School