Posted 1/16/2024, 8:22:49 AM
UK Wage Growth Slows but Still Outpaces Inflation as Job Market Shows Signs of Cooling
- Wage growth slowing in UK - dropped from 7.3% to 6.6% in November, but still outpacing inflation
- Signs of stalling in UK job market - number of vacancies dropped for 18th month in a row, especially in retail sector
- Recruitment companies reporting weak employer confidence and slowing demand
- Total vacancies fell by 49,000 to 934,000, but still above pre-pandemic levels
- Public sector pay growth (6.6%) overtook private sector (6.5%) for first time since March 2021