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UK wage growth cools less than expected as unemployment rate ticks up
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According to Labour Force Survey (LFS) figures published by the Office for National Statistics today (12 November), annual growth in employees' average regular earnings, excluding bonuses, fell from 4.9% to 4.8% in July to September. The figure was the lowest since mid-2022, but it fell short of economists' expectations of a larger drop to 4.7%. Including bonuses, annual growth in total earnings rose from 3.9% to 4.3%, above consensus of 3.9%. Bank of England meets expectations with 25 basis point rate cut to 4.75% Private sector regular pay growth, the Bank of England's key indic...
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