UK pay growth slows less than expected as workers bid up wages
by Phillip Inman from Economics | The Guardian on (#6JK7Q)
December figures prompt predictions Bank of England may cut interest rates later than previously expected
Pay growth slowed less than expected in December, prompting predictions the Bank of England could start cutting interest rates later than previously expected.
Earnings growth, excluding bonuses, fell only modestly to 6.2% in October to December 2023 from a revised 6.7% in the previous three months, as workers continued to bid up their wages amid skills shortages and a record number of people with long-term sickness.
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