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Trends in macroeconomic indicators

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Question 31

Is the UK labor market experiencing a real wage crisis?

Fig. 1: UK average weekly earnings index and consumer price index (CPI)

DateAverage Weekly Earnings (Index)Consumer Price Index (CPI) (Index)
Jan 2020100100
Jul 2020102101
Jan 2021105102
Jul 2021108104
Jan 2022114109
Jul 2022122115
Jan 2023128120
Jul 2023135122

Using the data in Fig. 1, calculate the percentage change in the average weekly earnings index between July 2021 and July 2023.

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Trends in macroeconomic indicators Questions

  1. A Level
  2. /Economics
  3. /Trends in macroeconomic indicators