UK Wage Growth Slows: What the Latest Payroll Data Means

Wage growth in the UK eased to 4.5% between September and November, official figures suggest, following a sharp slowdown in private sector pay increases. The pace of pay growth for those employed by private businesses slowed to the lowest rate in five years, according to the Office for National Statistics (ONS). In contrast, public sector workers saw their wages jump but, the ONS said, this was likely due to pay rises being awarded earlier than in the previous year. Meanwhile, the number of people on company payrolls continued to fall - down 135,000 in the three months to November - with a particular decline in shops and hospitality.