Britain’s wage growth rate slows to 4.8%

The growth of wages in the United Kingdom decreased to its lowest level in more than three years, in light of the companies continuing to tighten the screws on employment, according to what was stated in official figures issued on Tuesday.

On Tuesday, the British News Agency quoted the UK National Statistics Office as saying that the regular growth of wages – with the exception of rewards – decreased to 4.8 percent in the three months that ended last July, from 5 percent in the previous three months, which is its lowest level since May 2022.
Wages still go beyond inflation, but at a slower pace, as real income growth declined – with the consumer price index taking into account – to 1.2 percent, which is its lowest level since September 2023. (Sky News)