UK wage growth for new hires slows to 4-year low

The UK’s new hire wage growth has slowed to its weakest pace in over four years, marking the sharpest drop in pay since the pandemic ￰0￱ figures offer the clearest sign yet that Britain’s labor market is losing ￰1￱ slowdown reflects growing caution among businesses, which are increasingly reluctant to raise wages to attract ￰2￱ years of worker shortages , the balance is shifting: employers are pulling back, while the number of job seekers rises ￰3￱ the Bank of England, the easing wage growth provides some ￰4￱ central bank has been wary of rising pay fueling persistent ￰5￱ wage pressures reduce the need to maintain high interest rates and could even open the door to rate cuts in the coming ￰6￱ from a broader perspective, that‘s a good-news portrait that‘s less ￰7￱ prime minister, Keir Starmer, has vowed to increase living standards and deliver growth for working ￰8￱ pay increases undercut that vow, especially since households are still burdened with stubbornly expensive food prices, pricey mortgages, and increasing tax ￰9￱ figures are from the most recent study of the jobs market by the Recruitment & Employment Confederation (REC) and KPMG, which is closely watched by policy ­makers.

It indicated that starting salaries in August had increased slowly since March ￰10￱ the time, the economy was weighed down by tight COVID-19 ￰11￱ cut hiring as candidate supply rises According to the survey, employers are being cautious with their ￰12￱ costs and a brittle economy are to ￰13￱ companies have put off expansion plans, such as hiring, until they see more signs that the economy is in clearer ￰14￱ the same time, the ranks of job seekers have ￰15￱ was a pickup in the availability of candidates at the quickest pace since ￰16￱ losses, hiring freezes, and concern over job insecurity have prompted more people to enter the labour ￰17￱ fell sharply for a sixth consecutive ￰18￱ postings in the retail and hospitality sector saw the sharpest ￰19￱ was the only industry to report a greater demand for permanent staff, providing a rare bright ￰20￱ job placements dropped again, with cost pressures and company caution holding back ￰21￱ the decline was the slowest in three months, suggesting the worst of the downturn may ￰22￱ pay growth reduces inflation risk but increases political pressure The news is some relief for the Bank of ￰23￱ have worried that workers will seek higher wages as inflation has surged ￰24￱ date, those fears have not come to ￰25￱ pay growth reduces the risk of “second-round” effects, which might otherwise entrench ￰26￱ for the government, it’s more ￰27￱ wage growth and increasing unemployment further complicate Starmer’s promise to improve living ￰28￱ are already squeezed by soaring food prices and energy ￰29￱ the threat of more tax hikes in the autumn budget may only increase the ￰30￱ Holt, group chief executive and UK senior partner at KPMG, said the trading environment continues to be “complex”, with many chief executives holding off on further investment and ￰31￱ Carberry, chief executive of the REC, said there was still life in the jobs market but noted that with fewer jobs available and more people seeking work, the overall picture remained ￰32￱ cautioned that businesses would closely watch the Autumn Budget in the hope that the Chancellor would avoid measures increasing the cost of hiring ￰33￱ slowing of payroll gains bolsters the case for the Bank of England to weigh interest-rate cuts in the months ￰34￱ unemployment rises and inflation pressures abate , pleas for monetary support will become increasingly louder.

However, sluggish wage growth is a reality for families: Incomes are falling behind growing living ￰35￱ more, the gap between pay and prices is at the center of Britain’s economic ￰36￱ seen where it ￰37￱ in Cryptopolitan Research and reach crypto’s sharpest investors and builders.