The UK state pension is projected to cross £13,000 a year driven by 3.9% wage growth, sparking debates over fiscal sustainability and retiree tax exemptions.

The UK labour market shows signs of cooling as unemployment rose to 4.4% and job vacancies recorded their 31st consecutive period of decline. The ONS continues to adjust its methodology to address volatility in survey data.

Families in the UK and US face increased financial strain as inflation outpaces wage growth, driven largely by rising energy prices and utility costs.