Wage demands likely to cool as inflation starts to head down and unemployment rises
On the surface, Britain’s labour market looks healthy. The number of payrolled employees rose by more than 100,000 in November while annual pay growth is above 6%.
Look a bit more closely and there are signs – admittedly only small signs – that a turning point has been reached. Unemployment in the three months to October rose slightly to 3.7%, while job vacancies over the same period were down by 65,000.
