Strong labour market figures continue post-referendum but pay growth remains the same, the Resolution Foundation said today
The figures showed that the employment rate remained at a record high, while there was little change in unemployment or the more timely claimant count measure.
Regular real pay growth remained at 1.7 per cent, below its pre-crisis average of 2.2 per cent. Pay growth has fallen below its previous trend for nearly a full year now and the Foundation expects it to weaken further next month as higher inflation starts to feed through.
The latest summary of economic forecasts published today by the Treasury point to a return to falling real pay in the last quarter of 2017, thanks to both higher inflation and weaker pay settlements than had been projected before the Brexit vote.
Matt Whittaker, Chief Economist at the Resolution Foundation, said:
“Today’s figures show that in contrast to the volatility for Sterling, the Brexit vote hasn’t had any immediate impact on the UK labour market, which remains strong and resilient on jobs but disappointing on productivity and pay.
“However, yesterday’s jump in inflation sounds a warning that unless we see significant step up in pay settlements soon we risk being on course for a fresh pay squeeze next year, having barely recovered from the last one.”
Like our Facebook Page
How to Find an Eco-Friendly Termite Control Service Provider in Malaysia
Eco-Friendly Vegans Win Most Battles Not the War
3 Iconic Chicago Billboards Eco-Friendly Advertisers Can Learn from
EnviroSolar’s Abe Issa Discusses Success in Green Entrepreneurship
How Sports Could Be Impacted by Climate Change
What Eco-Friendly Patients Should Know about Online Therapy
6 Reasons Why Meal Delivery Services are Eco-Friendly
The Path for Retail’s Sustainable Future
4 Eco-Friendly Ways to Treat a Sinus Infection
4 Strategies for Eco-Friendly Real Estate Investors to Find Properties
How Managed Print Services Helps to Reduce Paper Waste
Why Scientists Are Concerned About ‘Forever Chemicals’ In Drinking Water
Meat Farming Is Only Getting Smarter, Easier & Eco-Friendlier
What is Eco-Friendly Homesteading and How Does it Affect Your Insurance?
Importance of Using a Water Purifier in an Area with High Pollution
Alternative Financing Ideas for Green Businesses that Shun Banks
Tencel Material Demand Shows Britain Is More Eco-Friendlier Than Ireland
How To Invest in Clean Energy Stocks in Only Five Easy Steps!
How To Secure Funding As An Eco-Entrepreneur?
4 Amazing Eco-Friendly Businesses Worth Starting in 2021
- Features8 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy9 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features8 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Invest10 months ago
The Eco-Friendly Evolution of Bitcoin Over the Years