UK Incomes Data Research survey of wage growth:
median pay
settlement awarded by major employers dropped to 4.0% in the
three months to July, the lowest since August 2022 and down from
4.8% in the three months to June
Subdued wage growth, if a 4& quarterly gain can be so described, keeps the Bank of England on track for further rate cuts.
Wednesday brought earlier wages data from the UK:
UK July ILO unemployment rate 4.1% vs 4.1% expected
This article was written by Eamonn Sheridan at www.forexlive.com.
