UK pay growth slows as inflation pressure weakens
by Phillip Inman from Economics | The Guardian on (#6HWKZ)
Vacancies tumbled at fastest rate on record in December, according to ONS figures
Pay growth in the UK slowed more than expected in November, in a sign that inflationary pressures have weakened more than the Bank of England was expecting when it issued its latest forecasts.
Average pay growth was 6.5% in November, down from 7.2% in the previous month, according to the Office for National Statistics, as the UK jobs market weakened in response to high interest rates and stagnation across much of the economy. Economists polled by Reuters had expected total average earnings of 6.8% in November.
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