UK pay growth rises, adding pressure on Bank of England over interest rates
Annual growth in average weekly earnings increases despite evidence of employers also cutting jobsAre warning lights showing in UK jobs market?Business live – latest updatesUK pay growth rose in November despite evidence of employers cutting jobs after Rachel Reeves’s tax-raising budget, underlining a dilemma for the Bank of England as it considers cutting interest rates next month.With the government under pressure on the economy, the Office for National Statistics (ONS) said annual growth in average weekly earnings rose by 5.6% in the three months to the end of November, up from 5.2% in the three months to October. Continue reading...
Annual growth in average weekly earnings increases despite evidence of employers also cutting jobs
UK pay growth rose in November despite evidence of employers cutting jobs after Rachel Reeves’s tax-raising budget, underlining a dilemma for the Bank of England as it considers cutting interest rates next month.
With the government under pressure on the economy, the Office for National Statistics (ONS) said annual growth in average weekly earnings rose by 5.6% in the three months to the end of November, up from 5.2% in the three months to October. Continue reading...
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