ECONOMICS COMMENTARY
Mar 19, 2014
UK: Tightening labour market drives pay growth higher
Unemployment fell further in February, and looks set to decline further in coming months, while pay growth also continues to revive. Pay is now rising well above inflation in manufacturing, construction and retail. The total number in employment meanwhile rose to a record high of 30.2 million and job vacancies hit the highest since late-2008.
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