Labour report

Wage growth slows, unemployment unchanged

Pay packets are growing at a slower rate, but above inflation

Wage growth remains above the rate of inflation, though it has slowed for the fifth consecutive month, while the rate of unemployment is unchanged.

Average weekly wage growth, which excludes bonuses, eased to 6.6% in the three months to November, from 7.3% a month earlier, the Office for National Statistics said.

This means pay packets grew faster than the rate of price rises, which stood at a more than two-year low of 3.9% up to November.

The rate of UK unemployment was unchanged at 4.2% in line with market expectations. Scottish unemployment fell by 0.1 points to 3.8%.

Chancellor Jeremy Hunt said: “With inflation falling, it’s heartening to see real wages growing for the fifth month in a row. This is on top of the record cut to National Insurance worth nearly £1,000 in a typical household with two working peopleputting more money in their pockets.”

… more follows

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.