Earnings growth has dropped back, according to the latest figures from the Office for National Statistics. Average weekly earnings across the whole economy grew by 2.3% in three-months to July, compared to a year ago, down from the revised figure of 2.5% for June.
In the private sector, average weekly earnings grew by 2.4% in the year to July, down from the revised figure of 2.6% for both May and June but still above the lower levels seen in the spring. Earnings growth in the public sector was 1.7% in the year to June, down from the 1.9% seen in both May and June, but also higher than seen at the start of the year. This still means that average earnings in the private sector at £505 a week are now greater than in the public sector at £499 a week, a trend that has emerged since April of this year.
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