Wages continue to rise above inflation but less than expected: ONS
- UK average weekly pay grew by 5.9% for the three months to February, according to the Office for National Statistics .
- Wages surpassed inflation by about 3%, with a total increase of 2.8% including bonuses, as reported by the ONS.
- Inflation dropped to 2.8% in February due to falling prices of clothes and shoes, according to the ONS.
- Monica George Michail noted that the rise in the national minimum/living wage is expected to maintain elevated earnings growth.
42 Articles
42 Articles
Wage growth remains stubbornly high
High wage growth persisted in the three months to February, official data has shown, but a rapid drop in payrolled employment pointed to concerning trends in the labour market. Annual growth in average weekly earnings excluding bonuses hit 5.9 per cent, the Office for National Statistics (ONS) said on Tuesday. But separate tax data showed that businesses cut workers at the fastest pace since the start of the pandemic. A provisional estimate show…
UK labour market shows slowdown signs in run-up to employer tax hike
Britain's labour market showed signs of weakening in the run-up to this month's increase in a tax on employers, according to data published on Tuesday, but wage growth remained strong, posing a conundrum for the Bank of England.
Evening Standard
UK wage growth remains stubbornly high as unemployment steadies
The Office for National Statistics said average weekly pay grew by 5.9% for the three months to February.
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