UK unemployment figures put spotlight on real wage squeeze – business live

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Britain’s real wage squeeze is set to deepen today, when we get new data showing how the UK labour market is performing.

Related: Britons ‘face expensive Christmas dinner’ as food price inflation soars

With the Bank of England’s Regional Agents’ survey indicating pay settlements could pick up next year to 2.5-3.5% next year, it could well be some way into 2018 before there is sufficient evidence from the labour market reports that pay growth is making a meaningful advance.

With unemployment at 42 year lows of 4.3%, it surely can only be a matter of time before wage pressure starts to manifest itself further…..

We’ve already started to see increasing evidence that wages at the lower end of the income scale are rising at rates faster than inflation as the effects of increases in the minimum and living wage help pull up wages at the bottom of the pay scales.

Softer open in prospect for European indices after losses on Wall Street and steep sell off across Asian Pacific markets. #Crudeoil continues to slide. #FTSE called 20 lower

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