ECONOMICS COMMENTARY
Jan 09, 2014
Surge in UK recruitment points to upturn in pay growth and further jobless fall
Job creation continued to surge in December, according to recruitment agencies. Alongside deteriorating staff availability, rising demand for workers pushed up pay rates at the fastest pace for six years. The data therefore suggest that unemployment should continue to fall sharply, possibly breaching the Bank of England's policy threshold of 7% in early 2014, and that a return to real wages growth is in sight for 2014.
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