UK wage growth slows for first time since mid-2014
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17th May 2017UK wage growth slows for first time since mid-2014
Wage growth is lagging behind inflation for the first time since mid-2014, official figures show.
Average weekly earnings excluding bonuses increased by 2.1%. in the three months to March, while inflation rose by 2.3% in the year to March 2017.
In the first three months of this year, wages fell by 0.2%.
Meanwhile, the number of unemployed people fell by 53,000 to 1.54 million in the three months to March, said the Office for National Statistics.
The UK unemployment rate has fallen to 4.6%, its lowest in 42 years.
The jobless rate has not been lower since the June to August period of 1975.
The employment rate, the proportion of 16 to 64 year olds in work, was 74.8%, the highest since records began in 1971.
Source:bbc