UK wage growth slows but remains high for Bank of England to curb inflation

Quick Summary:

That represented the slowest growth in core pay since the summer of 2022 when employers scrambled to increase salaries to hire and retain staff amid a shortage of candidates.

The Office for National Statistics also said on Thursday it was delaying the switch to a new version of its Labour Force Survey which had been due to take place in September.

In the three months to April, regular pay had risen by an annual 6.0 per cent and total earnings were up by 5.9 per cent.

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Category: BusinessFinance

Markets: India

Topics: Bank of England UK UK wage growth Wage growth Interest rate

Source Website Secure: Yes (HTTPS)

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Article Type: News Report

Published On: 2024-07-18 @ 13:39:21 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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