ECONOMICS COMMENTARY
Jul 16, 2014
UK job vacancy data and surveys cast doubt on weakness of current wage growth
Employee pay growth fell to a record low in May, according to the latest data from the Office for National Statistics. The wages data look odd, because the official data also showed record employment growth over the past year, a further marked drop in employment and rising numbers of job vacancies at employers. Usually, wage growth picks up when the labour market tightens.
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