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MNI BRIEF: UK Wage Growth Mixed In September

UK wage data mixed but no signal for rush to accelerated BOE rate cuts.

MNI (LONDON) - UK average regular earnings ex-bonuses rose 4.8% in the three months to September 2024, the lowest level in just over two years, the Office for National Statistics said Tuesday. Including bonuses, wage growth sood at 4.3%, higher than both the previous month's read and the expectation of City economists.

The pick-up in total pay was affected by the civil service one-off payments made in July and August 2023, the ONS noted. Annual average regular earnings growth for the private sector was 4.8%, the same as the previous three- month period; growth was previously lower in the three months to February 2022.

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MNI (LONDON) - UK average regular earnings ex-bonuses rose 4.8% in the three months to September 2024, the lowest level in just over two years, the Office for National Statistics said Tuesday. Including bonuses, wage growth sood at 4.3%, higher than both the previous month's read and the expectation of City economists.

The pick-up in total pay was affected by the civil service one-off payments made in July and August 2023, the ONS noted. Annual average regular earnings growth for the private sector was 4.8%, the same as the previous three- month period; growth was previously lower in the three months to February 2022.

Keep reading...Show less