Key moments
Wage growth slows, and the unemployment rate rises
Thames Water’s senior creditors submit a £5 billion rescue plan
Asian shares buoyed as US-China trade talks continue for a second day in London
Wage growth cools and jobless rate rises to 4.6%
UK wage growth slowed in the three months to April and unemployment rose to the highest since the end of pandemic lockdowns in 2021, official data showed.
Average wage growth, excluding bonuses, was 5.2 per cent in the three months to April, down from 5.5 per cent the previous month, according to data from the Office for National Statistics. Analysts expected salary growth to have moderated to 5.3 per cent.
The unemployment was 4.6 per cent, up from 4.5 per cent and the highest rate of joblessness since July 2021.
Andrew Bailey, the Bank of England governor, told MPs last week that a further moderation in wage growth would be a necessary precursor to further interest rate cuts.
Visited 1 times, 1 visit(s) today
