UK Hiring and Pay Growth to Slow Later This Year

Fewer British employers expect to hire staff in late 2016 and will raise pay by less than inflation next year as the effects of the decision to leave the European Union set in, an industry body said on Monday.

The Chartered Institute of Personnel Development said more employers expected to hire staff than cut them in the fourth quarter of this year, but the net employment balance slowed to +22 in its latest survey from +27 in the previous quarter.

The CIPD also said wages in real terms were likely to fall next year because, for the second quarter running, employers expected to make basic pay settlements of just 1.1 percent while inflation is rising.

Reuters

USD/CAD – Trump Shock Pushes Canadian Dollar to 8-month Low

Sterling Pounds Brexit Bears

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.