While Brexit-related fears of both job losses and skilled labor shortages abound, two studies published on 08 November, one of which from the Bank of England (BoE), suggest that wages will rise even faster in 2018.
The BoE report, based on studies undertaken in the central bank’s country-wide offices confirms that in 2018 wage negotiations could result in average pay rises of around 2.5%-3.5%, higher than 2017’s average increase of between 2%-3%. Last week, the Bank’s economic forecasts were released and included expectations for an overall 3% rise in 2018 wages as compared with 2% in 2017. Indeed in an effort to take the steam out of rising wages, which are the result of several years of healthy UK labor
…Do you have information to share with us?