UK jobs market cools again as wage growth slows
by Richard Partington Economics correspondent from Economics | The Guardian on (#6PA6N)
Interest rate cut hangs in balance after ONS figures show annual pay growth eased to 5.7% in three months to May
UK wage growth slowed in May to the lowest level in two years amid a cooling jobs market, underscoring the challenge for the Bank of England as policymakers decide whether to cut interest rates.
Figures from the Office for National Statistics (ONS) show annual pay growth eased from 5.9% in the three months to April to 5.7% in the three months to May, matching City economists' predictions.
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