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UK Wages Jump at Strongest Pace on Record Outside Pandemic

  • Days lost due to labor disputes reached highest in 11 years
  • More older people go back to work in sign labor shortages ease
Bloomberg business news
WATCH: UK wages jump as rail staff, nurses, ambulance drivers and border guards strike in protest that their pay is falling further behind inflation. Lizzy Burden reports.Source: Bloomberg
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UK wages are rising at close to a record pace, maintaining pressure on the Bank of England to keep hiking interest rates despite a worsening economic outlook.

Official figures Tuesday show average earnings excluding bonuses were 6.1% higher in the three months through October than a year earlier. That’s the most since records began in 2001, barring the height of the coronavirus pandemic.