The growth of the United Kingdom's profits remained at its highest level since last April and vacancies increased for the first time in more than two and a half years despite concerns about incoming salary cost pressures in companies, they have demonstrated official figures.
The National Statistics Office (ONS) said that the growth of regular average wages did not change in 5.9 percent in the three months to January, remaining at the highest level from three months to April last year.
Salaries exceeded consumer prices of inflation index by 3.2 percent, added the ONS.
In an encouraging signal, vacancies said vacancies increased between 1,000 and 816,000 in the three months to February, which is the first increase from the quarter to June 2022.
There was also some optimism in the payroll figures in real time, which showed 21,000 more workers in the United Kingdom payroll last month to 30.4 million, after increasing by 9,000 in January.
It occurs despite a series of companies that warn about job losses and price increases before the incoming increase in national insurance contributions and the minimum wage increase that must enter into force next month.
The unemployment rate of the United Kingdom remained unchanged at 4.4 percent in the three months to January, although the Ons reiterated caution on statistics due to a review of the Nation's job survey.
Liz McKeown, director of Economic Statistics of ONS, said: “In general, salary growth remains relatively strong, with high salary growth in the public and private sectors, despite the fact that the latter slows down slightly in the last period.
“The broader image of the labor market is relatively unchanged, with the number of employees in a widely flat payroll in the last period and with little growth seen for much of last year.”
Reacting to the data, Sureen Thiru, director of Economics of Icaew,:
“These figures suggest that the United Kingdom's labor market had little impulse even before the twin success of next month of growing national insurance and dignified national salary costs, since the commercial confidence of free fall continues to reduce the recruitment activity.
“High salary growth is a double -edged edge sword for the economy because, although it will help boost consumer spending, a key promoter of economic growth, it can limit the rhythm of interest rates cuts by feeding fears on the increase in inflation.
“The United Kingdom labor market can soon slide in more chocas waters, since the considerable increase of April in commercial costs and a marked economy could trigger both moderately higher unemployment and weaker salary settlements.”
Alice Haine, a personal finance analyst at Bestinvest by Evelyn Partners, added: “The salary growth of the United Kingdom remained resistant in three months to January, despite the fact that the job market is tension as companies prepare for the minimum salary increase of Foreign Minister Rachel Reve and the increase in national insurance rates for employers established since the start of the start of the new financial year in April.
“Business leaders have warned that the Chancellor's decision for employers to assume most of the tax increases announced in their inaugural budget last October threatening the health of the labor market. The labor market showed some tension signals with the unemployment of 4.4 percent in three months to January, while the number of employees of the payments fell into the increase in employees. 30 consecutive periods of fall of the beginning of the year when work openings generally increase.
“When considering the inflationary impact that the imminent fiscal measures of the Chancellor for companies will have, with a series of main companies that already announce plans to transmit increasing costs to consumers, the perspectives for here for household budgets are far from being optimistic. With concerns about worry and homes and homes of households, they probably feel very worried.
“A comforting factor for workers is that wages continue to increase faster than inflation [but] However, many people may not feel that their salaries go further in real terms, since frozen income tax thresholds, established to remain in place until at least 2028, mean that they are increasingly dragging in higher tax rates.
“In uncertain times, keeping personal finances in order is key to consumers. Loss of work can derail the finances of the home that do not have adequate reservations. Building a solid emergency fund that can cover household bills during any period without income without income, cutting expenses, paying expensive debts and even subscribing to the protection of sensitive income are sensitive to facilitate financial concerns, particularly for households without safety funds.
