Pay growth eases as UK starting salary inflation drops to two-and-a-half-year low

KMPG/REC survey watched by the BoE

Valeria Martinez
clock • 1 min read

Pay pressures in the UK continued to weaken in September as rates of starting salary inflation and temporary wage growth edged down to 30- and 31-month lows, respectively.

The latest KPMG and REC ‘UK Report on Jobs' survey compiled by S&P Global also found that the overall availability of candidates improved again, with both permanent and temporary labour supply increasing at historically strong rates.  Total vacancies also fell marginally over the month, marking the first fall in overall demand for staff since February 2021. The survey revealed a slight reduction in permanent vacancies, while demand growth for temporary staff moderated to a four-month low. UK unemployment rate edges up as wage growth catches up with inflation According to the report...

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