UK wages grow faster than inflation, but job numbers and vacancies decline.
UK wage growth rose to 5.2% in the three months to October, outpacing inflation by 3%, marking the first increase in over a year. However, the jobs market showed signs of weakness, with a 35,000 drop in payroll numbers and a 31,000 decrease in job vacancies in November. The unemployment rate stayed steady at 4.3%. These figures, coupled with recent budget measures increasing employer national insurance contributions and minimum wage hikes, may influence the Bank of England to maintain interest rates at 4.75%.
3 months ago
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