Jobs
UK Labor Market Feeds Inflation Pressure With Jump in Wages
- Real wages shrink at fastest pace since 2009 recession
- Inactivity increases again with no sign shortages are easing
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Britain’s job shortages showed no signs of easing in the third quarter as more people dropped out of work and wages grew at the fastest pace in over a year, adding to inflationary concerns for the Bank of England.
Both the number of employed and unemployed fell, while 108,000 more people became economically inactive in the three months to September. That took the total increase in those not seeking work since the start of the pandemic to 630,000.