UK Wage Growth Stalls Amid Hiring Slowdown, Inflation Pressures Ease
UK wage growth remained stagnant in October, according to a joint survey by the Recruitment & Employment Confederation and KPMG. Permanent starting salaries showed only marginal improvement from September's four-and-a-half-year low, while demand for workers continued its sharp decline. The labor market appears caught between employers' budget constraints and a growing pool of job seekers.
Bank of England policymakers will scrutinize these wage trends ahead of their December meeting. With inflation drivers weakening, the central bank may find justification for maintaining current interest rates. "Recruiters report salary adjustments in both directions - some employers still compete for top talent, while others cut costs," the survey noted on November 14.
