UK pay growth stays high – but Britons are feeling the pinch
by Heather Stewart Economics editor from on (#7032T)
Firms are reluctant to hire and unemployment is rising, as inflation dulls the impact of higher wages
Tuesday's latest snapshot of the UK jobs market shows what is becoming a familiar pattern: a gradual slowdown in hiring, rising unemployment, yet with wage growth still uncomfortably high for policymakers.
Whether because of Rachel Reeves's 25bn national insurance increase, uncertainty over her upcoming budget, AI-related disruption or Donald Trump's tariffs - or perhaps all four - companies seem to be cautious about taking on staff.
Continue reading...