The recent positive developments seen in the UK labour market have continued this month. The weak points remain wage growth and longer term unemployment.
Inflation continues to outpace wage increases, with average wage growth now around a third of inflation. This month’s figures show the public sector has been harder hit by falling wages, with average weekly earnings for the public sector falling by 0.5 per cent on the year. This is the first time a negative growth rate has been recorded since comparable records began in 2001. The private sector saw wages grow by 1.1 per cent.
Labour market update, latest data tables: