British wage growth strong, but prospects dim for 2017
Xinhua, December 22, 2016 Adjust font size:
Britain's wage growth in the first part of 2016 was the strongest in 15 years, according to research released on Wednesday, but it may be "as good as it gets" with the labor market facing the uncertainty of the Brexit process in 2017.
The London-based economics and wages think-tank the Resolution Foundation revealed strong British wage growth during 2016 in its quarterly Earnings Outlook.
Non-retired household income grew by around 3 percent, and across all income categories growth was more than 2 percent in the year to April 2016.
Figures showed that was a continuation of a trend from 2014-2015 where very rapid employment growth coupled with near zero inflation created a solid living standards recovery.
In addition, the introduction of the National Living Wage in April, as a floor for hourly wages, had bolstered the incomes of the low-paid.
The wage growth up to April had turned into a second phase of steady wage growth, averaging 1.7 percent in the three months to October. Endit