The High Pay Centre says pay gaps were the greatest in the retail sector in the early months of 2022.
The gap between the pay of company executives and other workers is set to widen this year after falling during the height of the Covid pandemic, research by a think tank suggests.
"However, as the Covid-19 emergency hopefully reduces, it would be a shame if the spirit of solidarity it generated fades away as well," he added. Prices were already rising as economies opened following pandemic restrictions, but war in Ukraine has led to further increases and wages are failing to keep pace.up from 7% in March and is forecast to rise further by the end of the year.not ask for big pay rises - to try and stop inflation spiralling out of control.
Mubin Haq, chief executive of the abrdn Financial Fairness Trust, which contributed to the research, said the previous narrowing of the pay gap during the height of the pandemic showed "change is possible". Mr Haq said wage growth for those on lower incomes would be "critical" to ensure "millions can weather the cost-of-living crisis we are now facing".However, Emily Fielder, head of communications at the Adam Smith Institute, said while "fretting about CEO pay might make for a good headline, getting involved would do little to increase workers' wages and benefits to shareholders".
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