Wage growth rises as UK firms start cutting jobs at fastest rate in four years
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UK average earnings rose by 5.2% in the three months to October, the latest data from the Office for National Statistics (ONS) reveals. Wages including and excluding bonuses were up 0.3% from 4.9% from the three months before. Annual average earnings were up 4.4% from the year before, the ONS said.
![[Official figures have been released this morning]](https://www.thesun.co.uk/wp-content/uploads/2024/12/man-holding-pound-coins-notes-954455456.jpg?strip=all&w=960)
The latest data means wages in the three months to October were outstripping inflation, which currently sits at 2.3%. It comes after UK companies started cutting jobs at the fastest rate in almost four years following the Government's Budget. The ONS said total average weekly pay for workers in October was £706 and £656 for regular earnings.
