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
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
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.
