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14th Jun 2022 18:00U.K., Daily Monitor

Year-over-year growth in private-sector wages slowed to 4.7% in April, slightly below the MPC’s 4.8% forecast.

The job market no longer is tightening, as the workforce recovers and growth in employment starts to slow.

We still expect the workforce to recover further, anchoring wage growth and easing the pressure for rate hikes.

BoE employee numbers employment job market June labour labour force labour market March monetary policy mpc October paye policy public sector q2 savings summer survey data unemployment unemployment rate wage growth wages

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Keywords for: Stable Wage Growth and a Reviving Workforce will Cheer the MPC

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