Pay is finally edging up, says Bank of England report

Threadneedle Street believes lowest unemployment level since mid-1970s will give workers more bargaining power

Long-awaited signs of pay growth have been detected by the Bank of England amid evidence that a steady fall in unemployment is making it harder to find staff.

With the jobless rate at its lowest level since the mid-1970s, the regular report compiled by Threadneedle Street's regional agents found a slight edging up of pay awards.