Pay grows at slowest rate in more than five years
#wage growth #unemployment #inflation #interest rates #Bank of England #labor market #economic slowdown
📌 Key Takeaways
- UK wage growth slowed to 5.6% in the three months to April, the lowest rate since mid-2021.
- The slowdown in pay increases may influence the Bank of England's decision on interest rates.
- Unemployment rose to 4.4%, the highest level in over two years, indicating a cooling labor market.
- Inflation is nearing the Bank of England's 2% target, reducing pressure for further rate hikes.
📖 Full Retelling
Annual earnings grew at an annual rate of 3.8% in the November to January period, the Office for National Statistics says.
🏷️ Themes
Economic Indicators, Monetary Policy
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Original Source
Annual earnings grew at an annual rate of 3.8% in the November to January period, the Office for National Statistics says.
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