UK Wage Growth Cools Slightly But Remains Near Record Highs
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Wage growth in the UK cooled slightly in Q3 but remained near record highs. Pay excluding bonuses rose 7.7% year-on-year.
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Total pay growth including bonuses slowed more sharply to 7.9% from 8.2% previously.
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Job vacancies fell to the lowest level since mid-2021 but are still 15% above pre-pandemic levels.
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The experimental unemployment rate held steady at 4.2% in Q3.
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Sterling rose slightly against the dollar after the wage growth data was released.