UK Wage Growth Slows but Jobs Market Remains Tight
• UK wage growth slowed to 7.3% in the three months to October, down from 7.8% in the previous period. It was the sharpest slowdown since November 2021.
• The Bank of England is still expected to keep interest rates unchanged at a 15-year high when it meets this week.
• Job vacancies fell for the 17th month in a row but remain above pre-pandemic levels.
• The unemployment rate held steady at 4.2% in the three months to September.
• After adjusting for inflation, workers saw the biggest increase in income since September 2021, rising 1.2%.