Jobs
UK Wages Rise More Than Expected in Added Sign of Inflation
- Despite gloomy outlook, economy continues to generate jobs
- Inactivity drops as students return to the workforce
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UK wages rose quicker than expected at the end of 2022, heaping pressure on the Bank of England to deliver another interest-rate increase next month.
Average earnings excluding bonuses were 6.7% higher in the three months through December from the previous year, the Office for National Statistics said Tuesday. That’s the fastest pace since records began in 2001, excluding the pandemic period.