Wages are continuing to rise at their highest level for nearly a decade, the latest official Office for National Statistics figures published today show. However the evidence points to a steadily contracting labour market. Average weekly earnings, excluding bonuses, went up by 3.3 per cent in the three months to October, the biggest rise…
Tags: wage rises
The unemployment rate in the UK has fallen to a seven year low, suggesting the green shoots of recovery are now developing into saplings. The figures do suggest though that wage rises are not proving particularly forthcoming.
Substantial wage rises are unlikely over the next 12 months as the majority of employers report they are having little problem hiring the staff they need, according to the latest CIPD Labour Market Outlook (LMO) survey.