💨 Abstract

Recent data shows a slowdown in average earnings, with weekly earnings (excluding bonuses) growing by 5.6% and total earnings (including bonuses) by 5.5% in the first quarter of the year. Despite the slowdown, wage growth remains relatively strong in both public and private sectors. However, the labor market is cooling, with a decrease in payroll employees and job vacancies. Additionally, the article explains inflation, its impacts, and the government's target rate.

Courtesy: www.thesun.co.uk