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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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.