UK Wages Finally Rise as Inflation Falls, Easing Cost of Living Squeeze
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UK real regular pay rose 0.7% year-on-year in June-August, the first increase in almost 2 years, easing the cost of living squeeze.
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Regular pay rose 7.8% while inflation fell, so real wages turned positive. Total pay including bonuses rose 8.1%.
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Public sector pay growth hit a 20+ year high of 6.8%, but private sector pay grew faster at 8%.
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Vacancies fell for the 15th consecutive month, signalling cooling labour demand. Payrolls also dropped slightly.
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Rolls-Royce confirmed plans to cut 2,500 jobs globally. The company is streamlining to become "fit for the future".
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