British wages, excluding bonuses, rose at their fastest pace in nearly 11 years,...
LONDON - British wages, excluding bonuses, rose at their fastest pace in nearly 11 years, official data showed on Tuesday, but there were potential signs of future weakness in jobs growth, the economy’s silver lining since the Brexit referendum.
Including bonuses, pay growth beat all forecasts in the poll, rising to 3.4%, the Office for National Statistics said, with a change in the timing of public health workers’ pay rises accounting for a small part of the increase. “However, the booming jobs market has inevitably shown signs of losing momentum in recent months,” Tej Parikh, chief economist at the Institute of Directors.
But the growth in employment slowed to 28,000, the weakest increase since the three months to August last year and below the forecast of an increase of 45,000 in the Reuters poll.
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