UK earnings growth has fallen to its lowest level for more than two years
UK earnings growth has fallen to its lowest level for more than two years amid further signs of a weakening jobs market, according to official figures. The Office for National Statistics (ONS) said average regular earnings growth eased back to 4.9% in the three months to July, down from 5.1% in the previous three months.
Category
🗞
NewsTranscript
00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.
00:07UK earnings growth has fallen to its lowest level for more than two years amid further signs of a weakening jobs market, according to official figures.
00:17The ONS said average regular earnings growth eased back to 4.9% in the three months to July, down from 5.1% in the previous three months.
00:29This marked the lowest level since the three months to June 2022.
00:34However, earnings growth continues to outstrip inflation, as pay increased by 2.6% in the three months to August, with consumer prices index inflation taken into account.
00:46This update this morning shows that UK earnings growth has fallen to its lowest level for more than two years, according to official figures.
00:54My name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.