Higher interest rates from the Bank of England have moved a decisive step closer after the latest official figures showed earnings growing at their fastest rate in more than two years.
The latest snapshot of the labour market from the Office for National Statistics showed that a record high level of employment and a drift from part-time to full-time work pushed up wages in the three months ending in January.
With inflation falling, the ONS said the squeeze on living standards that had dampened consumer spending over the past year had come to an end if bonuses were included in the yardstick used to calculate earnings.
via The Guardian
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