UK earnings shrink at fastest pace in 3 years

British workers’ earnings after inflation contracted at the fastest pace since 2014 in the three months to April, underscoring the growing Brexit squeeze facing many households, newly-published official data shows.

The figures showed the challenge facing Prime Minister Theresa May and her new government, with signs that British households are feeling the strain of rising prices since last year’s vote to leave the EU, weighing on the broader economy.

The data also showed the UK’s unemployment rate in the period between February and April held steady at a more than four-decade low of 4.6%.