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UK pay growth rises despite firms cutting jobs after budget (www.theguardian.com)

submitted 2 weeks ago by Emperor@feddit.uk to c/unitedkingdom@feddit.uk

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UK pay growth rose in November despite evidence of employers cutting jobs after Rachel Reeves’s tax-raising budget, underlining a dilemma for the Bank of England as it considers cutting interest rates next month.

With the government under pressure on the economy, the Office for National Statistics (ONS) said annual growth in average weekly earnings rose by 5.6% in the three months to the end of November, up from 5.2% in the three months to October.

City economists had forecast total annual pay growth would accelerate. The reading matched estimates for total pay, but was marginally higher than expected for regular pay, excluding bonuses.

At the same time, the figures showed the UK unemployment rate for people aged 16 and over rose to 4.4% in the three months to November, up from 4.3% in the three months to October, highlighting some evidence of a cooling jobs market since the autumn budget.

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[–] frazorth@feddit.uk 2 points 2 weeks ago

Which average?

Medium, mean or mode?

If the "average" increases because the CEO fired people, cut wages, and gave themselves a bonus, then it is a stat that people shouldn't care about.