This quarter’s issue shows how pay rises appear to be holding up, despite the fall in inflation and a weakening labour market. Continued pressures at the lower end of the pay distribution, from the NLW and VLW alike, may be a factor, and we examine these in a special feature, as well as looking at the outlook for increases in the cost of living. We present headline findings from our survey of pay for apprentices and graduates. And we’re also delighted to be able to include a case study in this issue, showing how Ricoh UK dealt with a contemporary squeeze on pay budgets and is attempting to produce more transparency around pay in order to tackle its gender gap.