Tag: Wages

Posted on

U.S. private payrolls grew by just 150,000 in June 2024, below expectations

Workers

In June 2024, private companies created 150,000 jobs, falling short of the revised figure of 157,000 in May 2024 and the estimate of 160,000.

The leisure and hospitality sector led the way with 63,000 new jobs, marking the largest increase among the categories tracked by the payroll processing firm ADP.

U.S. age growth slowed to 4.9% year-on-year, the smallest rise since August 2021.

Markets generally shrugged off the lacklustre figures as Tech and AI driven indices continued their march to achieve ever higher positions.

Posted on

UK pay outstrips inflation by highest amount for two years

UK pay up

Pay growth has outstripped inflation by the most since 2021, in a further sign that the pressure on living costs may be starting to ease.

Regular pay rose at an annual rate of 7.7% between July and September 2023, official figures show; higher than average inflation over the same three months.

But job vacancies fell for the 16th month in row, in a worrying sign that the jobs market is weakening. Between August and October 2023, the estimated number of vacancies in the UK fell to 957000, down 58000 – although the Office for National Statistics (ONS) said the total remains well above pre-pandemic levels.

Data Source: Office for National Statistics Data

UK pay outstrips inflation by highest amount for two years

The UK’s unemployment rate was largely unchanged between July to September 2023 at 4.2%, according to ONS data.