Wage growth in the UK has accelerated over the past three months

In the last three months, there has been a significant acceleration in wage growth in the UK. Data from the National Statistical Office show that the average weekly salary, including bonuses, increased by 5.2% compared to the same period last year. This value exceeds the forecast of analysts, who expected growth of 4.6%. 

This growth is mainly due to the dynamics of wages in the private sector, where they increased by 5.4%, while in the public sector the increase was 4.2%. 

It is noteworthy that salary growth excluding bonuses also accelerated, reaching 5.2% in August-October, whereas in the previous quarter it was 4.9%. 

At the same time, the UK labor market demonstrates stability: the number of employed increased by 173 thousand people, and the unemployment rate remained at 4.3%.