Wage growth in the UK has shown signs of deceleration, reaching its weakest level since November at 5.6% for regular pay, as unemployment slightly increased to 4.5%. Businesses face new cost pressures, including a rise in the minimum wage and tax hikes. Job vacancies fell to 761,000, indicating a cooling labor market despite wage growth outpacing inflation consistently. Some experts urge caution in interpreting the data, reflecting concerns over declining survey response rates from the ONS, while the overall employment landscape exhibits signs of softening.
Wage growth slowed slightly in the latest period but remains relatively strong, with public and private sectors now showing little difference.
Despite the declines, some economists remain cautious about drawing firm conclusions due to concerns over falling response rates to the ONS's labour force survey.
Collection
[
|
...
]