UK Wages Jump at Strongest Pace on Record Outside Pandemic
- Days lost due to labor disputes reached highest in 11 years
- More older people go back to work in sign labor shortages ease
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UK wages are rising at close to a record pace, maintaining pressure on the Bank of England to keep hiking interest rates despite a worsening economic outlook.
Official figures Tuesday show average earnings excluding bonuses were 6.1% higher in the three months through October than a year earlier. That’s the most since records began in 2001, barring the height of the coronavirus pandemic.