Wednesday, September 16, 2015

UK wage growth hits six-year high

FXStreet (Mumbai) - The data released by the UK Office for National Statistics on Wednesday showed the UK wage growth rose to a six year and the unemployment rate declined.

The average weekly earnings excluding bonus rose at an annualised rate of 2.9% in three months to July, its biggest gains since early 2009. Total pay growth also rose to 2.9%. The unemployment rate fell to 5.5 percent, matching the lowest since 2008, from 5.6 percent in the second quarter.

The number of people in work rose 42,000 to 31.1 million in the latest three months. Economists surveyed by Bloomberg predict a quarter-point rate increase in the first quarter of 2016.
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