British workers get the biggest pay rise in a decade

LONDON, Dec. 11 (Reuters) – The biggest pay rise for British workers in a decade has ended in October, with the country's strong labor market showing no signs of weakening before Brexit, revealed official figures Tuesday.

Average weekly earnings, including premiums, increased 3.3% in one year. This is the largest increase since the three months prior to July 2008, well above the median forecast of 3.0% in a survey by Reuters economists.

The Bank of England, which has indicated it should raise interest rates gradually to offset inflationary pressures in the labor market, has forecast slower wage growth by the end of 2018 than official figures suggest. of Tuesday.

Total Revenues, Excluding Premiums, Also Increased 3.3% Per Year During the Three-Month Period Ended in October, According to the Office for National Statistics, the Largest Increase Since the End of 2008 .

With unemployment nearing its lowest level since the 1970s – 4.1% by October – employers have begun to increase staff salaries more quickly.

The pace of wage increases remains below the 4% increases seen before the financial crisis, but real earnings, adjusted for inflation, have nevertheless risen to the highest since the end of 2016, rising 1.1%.

The number of people employed increased by 79,000 in the three months to October, which is higher than the Reuters poll forecast.