UK Wage Growth Slows as Labour Market Nears Full Capacity

Wages grew 2.6% in the three months to December, faster than the rate of inflation, figures show.

However, the rate of wage growth slowed down, leading analysts to suggest households could face a “squeeze” on spending later this year.

The Office for National Statistics (ONS) data also indicated the jobless rate held steady at an 11-year low of 4.8% during the period.


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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.