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Lowest jobless rate since 1975 fails to spur UK wage growth

Reuters  |  LONDON 

By David Milliken and William SchombergLONDON (Reuters) - British workers' pay is still rising by less than inflation despite the lowest unemployment rate since 1975, official data showed on Tuesday, but weaker-than-expected wage growth is unlikely to stop interest rates rising next month.Since February, Britain's central bank has homed in on what it sees as an increasingly tight labour market that risks keeping inflation above target, unless interest rates go up faster than it thought at the start of the year.Tuesday's data showed average weekly earnings in the three months to February were ...

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First Published: Tue, April 17 2018. 20:18 IST
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