UK wage growth at brand new decade high as employers hire inside the face of Brexit

However, the surge in jobs could reflect nervousness among businesses who have cut investment, generating them more likely to hire workers who can be sacked inside the event of a downturn inside the economy.

The ONS said employment grew by 179,000 inside the three months to February, in line with the Reuters poll forecast.

“The jobs market remains robust, with the number of people in work continuing to grow,” ONS statistician Matt Hughes said. “The increase over the past year is actually all coming through full-timers, both employees along with also the self-employed.”

The strength of the labour market is actually pushing up the official measurement of wages more quickly than the Bank of England has forecast, leading some economists to think the item might raise interest rates once the uncertainty about Brexit lifts.

The BoE forecast in February of which wage growth could slow to 3.0 percent by the end of 2019 as the economy feels the drag of Brexit uncertainty along with also a global slowdown.

the item also forecast of which Britain’s economy will grow at its slowest rate in a decade of which year, even if the item avoids the shock of a no-deal Brexit.

The pace of wage rises remains slower than the 4 percent increases seen before the financial crisis.