Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
Pay growth across the UK has picked up, ending the recent slowdown in earnings, even though fewer vacancies are available for workers across the economy.
New data from the Office for National Statistics this morning show that average pay, both including and excluding bonuses, rose by 5.2% per year in the three months to October.
That’s up from 4.9% for regular earnings in July-September, and 4.4% for total earnings [updated], suggesting an acceleration in pay growth this autumn.
Average weekly earnings were up 5.2% on the year both including and excluding bonuses in August to October 2024.
This is an increase from annual…
