Tuesday, 16 October 2018

UK wage growth fastest for nearly 10 years, official figures show



Wages excluding bonuses have risen at their fastest pace in nearly 10 years, official figures show.

 
Pay rose by 3.1% in the three months to August, compared with a year ago, while inflation for the same period was 2.5%.


Last week, Bank of England chief economist Andy Haldane said he saw signs of a "new dawn" for wage growth.


The latest official data also showed unemployment fell by 47,000 to 1.36 million in the three months to August. The jobless rate remained at 4%.


David Freeman, the Office for National Statistic's (ONS) head of labour market, said: "People's regular monthly wage packets grew at their strongest rate in almost a decade, but, allowing for inflation, the growth was much more subdued.
"The number of people in work remained at a near-record high, while the unemployment rate was at its lowest since the mid-1970s."


The ONS figures showed the number of people in work was little changed at 32.39 million, down by just 5,000.




BBC    News.