UK wages grew at the fastest pace since the 2008-09 global financial crisis and employment reached a record high in the second quarter, despite contraction in the economy, data from the Office for National Statistics revealed Tuesday.
Total average weekly pay grew 3.7 percent in the year to June to GBP 538. This was the strongest growth rate seen since June 2008 and was in line with expectations.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.