UK annual wage growth slows to 6.5% as vacancies continue falling

Labour market overview

Cristian Angeloni
clock • 2 min read

Annual growth in employees’ average total earnings, including bonuses, fell to 6.5% between September and November 2023, according to the Office for National Statistics.

In its labour market overview, the agency found that annual growth in real terms, adjusted for inflation, was 1.3% over the three-month period. Demand for UK labour hits lowest level in a decade Similarly, the estimated number of vacancies in the last quarter of 2023 continued to fall to 934,000 - a 49,000 reduction - marking Q4 2023 as the 18th consecutive quarter of vacancy falls, and the longest consecutive run of quarterly falls ever recorded. However, the ONS noted the figures were still above pre-pandemic levels. The UK employment rate increased by 0.1 percentage points to...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

Trustpilot