UK Wages Finally Rise as Inflation Falls, Easing Cost of Living Squeeze

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.

Regular pay rose 7.8% while inflation fell, so real wages turned positive. Total pay including bonuses rose 8.1%.

Public sector pay growth hit a 20+ year high of 6.8%, but private sector pay grew faster at 8%.

Vacancies fell for the 15th consecutive month, signalling cooling labour demand. Payrolls also dropped slightly.

Rolls-Royce confirmed plans to cut 2,500 jobs globally. The company is streamlining to become "fit for the future".