Wage growth in the UK hit a 10-year high earlier this year, indicating a continued hiring spree among firms even as Brexit uncertainty continues. Earnings grew 3.5 percent YoY in the three months to February, while employment grew by 179,000. Industry groups warn that without investment in technology and machinery, the UK will continue to face productivity problems. When that's combined with rising regulatory costs, the economy and wage growth will suffer over the longer term, they said.
Wage growth in the UK hit a 10-year high earlier this year, indicating a continued hiring spree among firms even as Brexit uncertainty continues. Earnings grew 3.5% YoY in the three months to February, while employment grew by 179,000. Industry groups warn that without investment in technology and machinery, the UK will continue to face productivity problems. When that's combined with rising regulatory costs, the economy and wage growth will suffer over the longer term, they said.