6 August
UK wage growth falls short of expectations — Brightmine
UK wage growth, which had held steady at 3% for five consecutive quarters, is showing signs of deceleration. Brightmine’s research reveals nearly half of the surveyed employers are now offering pay raises below this median level.
Sheila Attwood, a Brightmine expert, analyzed data from over 309,000 employees. She noted that many businesses are opting for smaller pay raises due to persistent financial constraints. The situation is further exacerbated by increased social contributions and the minimum wage hike in April.
The Bank of England is closely watching the labor market. The regulator is considering potential interest rate cuts, but these would only happen if inflationary pressures in the country ease significantly.
Recommended
6 August
6 August
5 August
5 August
29 July
Top news
29 July
16 July
16 July
15 July