Employers in the UK plan to raise wages by 4% over the next 12 months.
That’s according to a quarterly survey conducted by the Chartered Institute of Personnel and Development. he previous survey showed a similar result.
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“While employers’ pay rise expectations remain above pre-pandemic levels, we would expect them to adjust their plans for pay rises in the coming months, as inflation falls and the labour market continues to slow,”
Info comes via a Reuters report, adding that the UK’s Resolution Foundation think tank, in a separate report on Monday, also said the current growth in inflation-adjusted wages looked unsustainable
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“Unless productivity picks up, wage growth will peter out, or pay rises will simply be passed on through higher prices and prolong our inflation problems”
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Last week we had the Bank of England remain on hold, with expectations now building for a June or perhaps August rate cut:
- The Bank of England still has cold feet on rate cuts, reluctant to commit
- Analysts tip a June Bank of England rate cut. Or August 😉
This article was written by Eamonn Sheridan at www.forexlive.com.
