Average earnings in the UK reported declines for the month of July as figures have failed to meet expectations and previous month’s values. Including bonuses, the Office of National Statistics reported a slowdown when compared to the previous month as the UK referendum vote continues to have companies keeping their guard up. The recent weakness of the sterling pound alongside the weak data on salary growth continue to point towards a decelerating growth rate. Even if unemployment has remained intact after the referendum, people filing for unemployment benefits came in higher than expected, a figure that could be reflected on next month’s rate.
Salary Data Points to New Policy
Daily Analysis - 15/09/2016