Economic news

UK wages rise less regardless of sliding unemployment

Wages in Britain grew at a lesser pace during the three months from March to May, even though unemployment kept decreasing, according to government reports.

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According to the Office for National Statistics, increase in wages decelerated to 2.7% from 2.8% in March-May period, and unemployment dipped by 12,000, coming down to 1.41 mln.

The jobless rate stayed at 4.2%, its joint minimum since 1975. The pullback in rise of wages could soften forecasts of a rate hike in August, said a number of economists.

Wage increases with bonuses inched lower to 2.5% from 2.6% for the mentioned period, data by the Office shows.


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