Every week, Roula Khalaf, the Editor of the prestigious Financial Times, handpicks her favorite stories to share with readers in the Editor’s Digest – and you can unlock this treasure trove of insights for free.
Here are the key highlights from this week’s newsletter:
- UK wage growth dipped to 4.9% in the three months leading up to August, with payroll employment growth stagnating, as revealed by official data on Tuesday.
- Analysts had predicted this annual earnings growth, excluding bonuses, which was on par with expectations. This figure marks a slight decrease from the previous three months, where wage growth stood at 5.1%.
- When bonuses were factored in, wage growth was lower, at 3.8%. However, this number was affected by substantial one-off bonuses given to public sector workers last year.
- Analysis from the Office for National Statistics (ONS) indicated a minor decline in payroll employment, with a decrease of 35,000 jobs, or 0.1%, in August. Initial data for September suggests that employment figures remained steady.
- These statistics reflect a trend of decreasing pay pressures in the economy. Additionally, they align with recent business surveys showing that employers are pausing hiring decisions, awaiting more clarity on tax and spending policies ahead of the upcoming Budget announcement.
Stay tuned for the latest developments as this story evolves.
In conclusion, as the economic landscape continues to shift, staying informed is key. Subscribe to the Editor’s Digest to stay ahead of the curve and gain valuable insights from the world of finance and business. Unlock a wealth of knowledge at no cost – it’s an opportunity you don’t want to miss.
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