Pay growth in Great Britain falls below 5%, making interest rate cut more likely

Gap between wages and inflation narrows in August, as unemployment rate dips to 4%Cooling labour market adds to Reeves’s tax-raising dilemmaBusiness live – latest updatesThe growth in employee annual earnings in Great Britain has fallen below 5% for the first time in more than two years, closing the gap between wages and inflation and increasing the likelihood of a further cut to interest rates.Staff pay, excluding bonuses, rose by 4.9% in the three months to August compared with the same period a year earlier, down from 5.1% in the three months to July, according to the Office for National Statistics (ONS). Continue reading...

admin admin
Oct 15, 2024 - 03:00
0 0
Pay growth in Great Britain falls below 5%, making interest rate cut more likely

Gap between wages and inflation narrows in August, as unemployment rate dips to 4%

The growth in employee annual earnings in Great Britain has fallen below 5% for the first time in more than two years, closing the gap between wages and inflation and increasing the likelihood of a further cut to interest rates.

Staff pay, excluding bonuses, rose by 4.9% in the three months to August compared with the same period a year earlier, down from 5.1% in the three months to July, according to the Office for National Statistics (ONS). Continue reading...

Read More