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UK average earnings grow most in five years

18 Jun 2015

The Office for National Statistics (ONS) released data yesterday, showing the highest annual growth rate in average weekly earnings since February 2009

Wages rose in the quarter to April 2009 at 2.7%, up from 2.3% in the quarter to March. Since the Consumer Price Index (CPI) fell 0.1% in the year to April, real wages actually rose by 2.8%

In this Go Global Student news item posted yesterday, we said that interest rates were likely to remain at current levels until 2016, except perhaps if wage inflation started to revive. Employers and economists however, seem relatively unmoved by the wage uptick, primarily because economic growth and consumer spending are still weak - meaning that the main inflation measure (CPI) will stay around its current historically low level

For the full ONS release on the UK labour market see here

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