Wages unexpectedly accelerate again
- Gross wage growth increased to 9.2%
- Public sector wages grew an impressive 12.2%
- Private sector annual wage growth recovered to 8% up form 6.3% in the second quarter
Data for both economic growth and labour market have been more tepid than expected in Q3 but despite this wage growth has accelerated. Labour market data overall have been sending somewhat contradicting messages lately, it could be that the cooling of labour market has been called prematurely
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