UK jobs market sees signs of cooling as wages remain under pressure

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Real regular pay falls 3.5 per cent

Pay also remained under pressure despite declining inflation and a 6.5 per cent in increase in regular wages, excluding bonuses, though this was slower than the 6.7 per cent rise in the previous three months.Darren Morgan, director of economic statistics at the Office for National Statistics, said: “Recent trends have continued, with a slight rise in employment, especially among part-timers.

“Detailed figures from our business surveys also show record numbers of jobs in several sectors, including law and accountancy firms, health, and pubs and restaurants. “In addition, the number of people neither working nor looking for a job fell overall, driven by a drop in young people. “However, a record number of people were completely outside the labour market due to long-term sickness.

“Although the inflation rate has come down a little, it’s still outstripping earnings growth, meaning real pay continues to fall.” – PA

 

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