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16th February 2022 - Wages growing, but still well below inflation
"The number of people claiming unemployment benefit in the UK fell to 31.9K in January, but the number for December was revised up from 43.3k to 51.6k.
The actual number of people claiming benefits is not as important as the trend, which continues to show a degree of tightness in the labour market.
Wages are beginning to pick up but are still well below the rate of inflation. That will have pleased Bank of England Governor Andrew Bailey, but it is expected that demands for greater increases, at least in line with inflation, will begin to be demanded.
Annual pay hit 4.3% in January, but vacancies are still at a record high. Bonus payments in the finance, insurance and property sectors boosted wages.
The rate at which salaries are lagging inflation is now at its highest level since 2014.Real wages, salaries adjusted to consider inflation fell by 0.1%.
"
Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.
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By CurrencyTransfer
5
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"The number of people claiming unemployment benefit in the UK fell to 31.9K in January, but the number for December was revised up from 43.3k to 51.6k.
The actual number of people claiming benefits is not as important as the trend, which continues to show a degree of tightness in the labour market.
Wages are beginning to pick up but are still well below the rate of inflation. That will have pleased Bank of England Governor Andrew Bailey, but it is expected that demands for greater increases, at least in line with inflation, will begin to be demanded.
Annual pay hit 4.3% in January, but vacancies are still at a record high. Bonus payments in the finance, insurance and property sectors boosted wages.
The rate at which salaries are lagging inflation is now at its highest level since 2014.Real wages, salaries adjusted to consider inflation fell by 0.1%.
"
Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.