Long-awaited signs of pay growth have been detected by the Bank of England amid evidence that a steady fall in unemployment is making it harder to find staff. With the jobless rate at its lowest level since the mid-1970s, the regular report compiled by Threadneedle Street’s regional agents found a slight edging up of pay awards. In their report the agents said jobs were being created but not at a rapid rate. “Overall employment intentions remained modest,” the report said. “Service sector employment intentions reflected the slight pick-up in activity earlier in the year within professional business services.

Source: The Guardian August 09, 2017 17:33 UTC