Britain's wage growth accelerated at the fastest pace in ten years, despite cracks in the labor market as employers refrain from hiring new employees before Brexit.
Salaries of employees, including bonuses, rose to 4% three months before July compared with the same period a year earlier, which is the fastest.
As a sign of growing caution among employers, as the global economy slows down and Brexit riots, job opportunities have declined.
Buy. A news block with high volatility, the average weekly earnings of all employees in the UK increased by 4.0% excluding bonuses in July compared with the previous year. The average weekly payment, including bonuses, increased by 3.8%.
Inflation, as measured by the CPI, averaged over 2% over the same period. After adjusting for inflation, the average weekly earnings excluding bonuses were 2.0% higher than the previous year, and the average salary, including bonuses, was 1.8% higher.