It's time to drop in on the state of the economy. And on the surface it appears to be good news as it looks like the rate of wage growth has overtaken inflation for some of us. But the benefits of this won't necessarily be felt by everyone. Let's take a closer look.

The rate of growth for the average wage has overtaken the rate of inflation. This is the first time this has happened in nearly two years. And could mean that the stress of the cost of living crisis will ease for some as things become more affordable.

Between June and August, wages rose at an annual rate of 7.8%. Inflation was reported at 6.7% for the year to August, which although is less than wage growth, is still three times higher than the 2% target.

Unfortunately, visible benefits of the shift depend on where you work. Public sector workers in general are still worse off than those in the private sector, with those working in finance and business services, and manufacturing enjoying some of the largest pay rises. It is believed that moving forward, younger and less skilled workers will be the worst affected.