UK wage rises were strong in August to October, with average regular earnings growing 5.2%, surpassing inflation of 2.3%, boosting household spending.
The tight jobs market, with an unemployment rate of 4.3%, showcases elevated wage rises that conflict with the Bank of England's inflation control strategies.
Despite buoyant wage numbers, there are mixed signals in employment with confidence dropping, hiring slowing, and new policies adding to business uncertainties.
With the minimum wage increasing to £12.21 in April and higher national insurance costs, businesses face increasing financial pressures, especially in the service sector.
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