UK wage growth accelerated more than forecast in the three months to October, further assuring the likelihood that the Bank of England will resist cutting interest rates later this week.
Annual growth in employees' average earning for both regular (excluding bonuses) and total earnings (including bonuses) hit 5.2% in August to October 2024, above expectations of economists at ING Economics. According to the data from the Office for National Statistics released today (17 December), this marked a rise from the 4.4% regular earnings growth and 4.9% total earnings growth seen in the three months to September. BoE survey reveals growing concern over UK inflationary outlook Meanwhile, the UK unemployment rate for people aged 16 and older was estimated at 4.3% in the thre...
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