UK unemployment rises 4.3% as wage growth hits record high

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Data showing another month of strong pay growth puts the Bank of England on track to hike rates again.

The UK’s average regular earnings growth, excluding bonuses, stood at 7.8% in the three months to the end of July.

Unemployment had been 4.2% in the quarter to the end of June, the Office for National Statistics added in a statement. “Wage growth remains high, partly reflecting one-off payments to public sector workers, but for real wages to grow sustainably we must stick to our plan to halve inflation,” finance minister Jeremy Hunt said in reaction.

 

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