UK pay growth rises despite firms cutting jobs after budget
by Richard Partington Economics correspondent from Economics | The Guardian on (#6TQ4G)
Labour market figures add to dilemma for Bank of England as it considers interest rate cuts
UK pay growth rose in November despite evidence of employers cutting jobs after Rachel Reeves's tax-raising budget, underlining a dilemma for the Bank of England as it considers cutting interest rates next month.
With the government under pressure on the economy, the Office for National Statistics (ONS) said annual growth in average weekly earnings rose by 5.6% in the three months to the end of November, up from 5.2% in the three months to October.
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