Summary
Wage growth in the UK slowed to 4.5% from September to November, with private sector pay increases reaching their lowest level in five years. Meanwhile, 135,000 fewer people were on company payrolls, with significant job losses in shops and hospitality.
Key Facts
- UK wage growth slowed to 4.5% from September to November.
- Private sector pay increases hit the lowest rate in five years.
- Public sector wages increased, possibly due to earlier pay rises.
- Company payrolls dropped by 135,000 people in three months.
- Shops and hospitality saw the most job losses.
- The slowdown in hiring occurred despite the approach of the Christmas season.
- Average wages without bonuses rose 4.6% from August to October.
