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UK pay growth hits 4% for first time since 2008

Video Credit: Reuters Studio - Duration: 01:16s - Published < > Embed
UK pay growth hits 4% for first time since 2008

UK pay growth hits 4% for first time since 2008

Britain's workers received their biggest pay rises in more than 11 years this summer, even as the country's political crisis over Brexit deepened.

David Pollard reports.

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UK pay growth hits 4% for first time since 2008

Amid Britain's Brexit gloom, more money might cheer people up ... And some at least are getting it.

UK workers enjoyed their best average pay rise in over a decade in the three months to July.

Four per cent is the strongest year on year increase since 2008.

Unemployment - at 3.8 per cent - fell back to some of the lowest rates seen since 1975.

It's the second data surprise this week.

A 0.3 per cent rise in output in July also topped forecasts.

Job creation, though, was lower than forecast - and vacancies have fallen ... Hinting that companies - amid the economic contraction seen in Q2 - are nervous ahead of Brexit.

Still in a job for now is prime minister Boris Johnson ... Despite a string of defeats in parliament in recent days.

His forced closure or prorogration of parliament late on Monday (September 9) has pushed sterling off six-week highs ... As the UK enters another period of political - and economic - uncertainty.

Most economists in a new poll by Reuters say Brexit will be delayed again, beyond an October 31 deadline.

The chance of Britain leaving with no transitional deal is put at 35 per cent.



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