U.K. Wage Growth Accelerates, Signaling Squeeze Is Ending
- Basic pay rises by 2.6 percent, narrowing gap with inflation
- Jobless rate falls and employment climbs to a record high
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U.K. wages are rising at their fastest pace since the end of 2016, signaling the yearlong squeeze on living standards is coming to an end.
Basic wage growth accelerated to 2.6 percent in the three months through January, the Office for National Statistics said Wednesday, while faster increases may also lie ahead.