The UK economy has added jobs at a solid pace in the three months to April but wage growth unexpectedly slowed, Bloomberg said.
The employment rate hit a record-high 75.6% after the economy created 146,000 jobs, exceeding economists’ expectations. Meanwhile, the jobless rate stayed at 4.2%, the lowest level since 1975.
However, experts suggest that an unexpected moderation in the pace of wage growth could mean the economy retains a margin of spare capacity. According to the Office for National Statistics, the country’s wage growth slowed to 2.8% in February to April 2018.
For Bank of England, the question is how quickly the economy uses its potential and what to expect in the future.
