UK Wage Inflation Drops to 5.7%, Unemployment Still at Record Lows mdi-fullscreen

New data from the Office for National Statistics (ONS) shows UK wage growth slowed in the three months to January to 5.7%, down from 6% in December. Excluding bonuses, the figure sits at around 6.5%. All still well below inflation, although the Bank of England won’t be displeased…

Unemployment is still at record lows of 3.7%, while the employment rate has ticked up by 0.1% since the last quarter to 75.7%. Vacancies dropped again, for the eighth consecutive month. Jeremy Hunt will be pleased to see the rate of economic inactivity also fell to 21.3%, just as he prepares to boost the tax-free allowance on pensions tomorrow in a bid to tease people back to the workforce…

mdi-tag-outline Data Guido Office for National Statistics Unemployment
mdi-timer March 14 2023 @ 08:44 mdi-share-variant mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-printer
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