Wage growth in the UK rose in the three months to February ahead of the introduction of higher payroll taxes and a lifting of the national living wage.
The Office for National Statistics said average weekly earnings growth, excluding bonuses, rose by 5.9 per cent in a rolling three-month period to February, up from 5.8 per cent in the previous month.
A measure of wage growth including bonuses was unchanged at 5.6 per cent and the unemployment rate was stable at 4.4 per cent. Both figures were in line with expectations.
The UK’s labour market has been cooling over the last year, recording falling vacancies and a weakening in employment growth as the economy has slowed and interest rates have been kept at restrictive levels.
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