British wage growth has fallen by more than expected in the three months to June, according to figures released by the Office of National Statistics this morning.
Growth in average weekly earnings fell 2.4 percent on the year in the last quarter, slowing down from 3.2 percent the quarter before.
Unemployment held steady at 5.6% after a surprise increase in May, the first since 2013. Unemployment in the three months preceding June was 1.85 million, up 25,000 from the previous quarter.
The number of people claiming unemployment benefits, dropped by 4,900 to 792,400 in July, after a small increase in June.
Official figures will be watched closely as the Bank of England debates when to raise rates. Mark Carney said last week that he could not give an exact date – but analysts expect it to be around the turn of the year.
