UK pay growth remains high, keeping up pressure against interest rate cuts
Unemployment remains level in January, but has risen over the past six months
Pay growth remained high at 5.8% in the three months to January, according to official data, maintaining the pressure on the Bank of England not to cut the cost of borrowing when it reveals its interest rate decision today.
The rate of pay growth fell slightly but remained well above inflation, indicating that employers continued to offer higher pay to secure skilled workers. Continue reading...
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