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Wage growth in UK is still well below inflation

Wage growth in UK is still well below inflation | 12 June 2023

12 June 2023, GBP/USD

Wage growth in UK is still well below inflation

GBPUSD trading plan:

British wage growth accelerated in the three months to May, in contrast to a downward trend in advertised salaries in the United States and the euro zone, according to figures from recruitment Indeed. The data contrasts with other numbers which show a cooling in Britain's labour market, and may concern Bank of England policymakers who fear Britain could suffer a more persistent inflation problem than other major economies. Wage growth in Britain is still well below consumer price inflation, which was 8.7% in April, and in double digits for seven months before that. Britain saw a similar decline in the number of job vacancies relative to the number of people unemployed as in the United States and the euro zone, potentially pointing towards downward pressure on wages ahead.

Investment idea: buy 1.2550 and take profit 1.2620.

David Johnson
Analyst of «FreshForex» company
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