Employment at record high – but wages still weak
The UK's jobless rate hit its lowest level since 1975 - but average earnings continued to lag behind inflation in the three months to June, official figures show.Wages grew by 2.1% compared with the same period last year, the Office for National Statistics said.This is a slight increase on the previous March to May quarter when the ONS revised down its preliminary figure to 1.9%.However, once inflation is taken into account, total pay in real terms sank by 0.5% both including and excluding bonuses.It comes a day after official data showed inflation remained unchanged in July at 2.6%. Economists had expected it to climb to 2.7%.The figures are significant as they show a continuation in the squeeze on living costs, largely thanks to the collapse in the pound following the Brexit vote, which ...
