Median UK pay awards rose to 3.4% in the three months to May, up from 3.2%, driven partly by April’s minimum wage hike.
Info via Reuters, citing a survey by
Incomes Data Research:
- Private-sector pay deals hit 3.5%, with 19% of employers offering raises above 6%, up from 12% in April.
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Public-sector pay averaged 3.6%, while the 9.7% rise in the National Living Wage had a stronger impact on services than manufacturing.
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Bank of England monitoring closely, as wage growth remains a key inflation risk; pay pressures may challenge its forecast for slowing inflation.
This article was written by Eamonn Sheridan at www.forexlive.com.
