UK pay growth stagnates as firms predict slower wage rises ahead

Growth in pay awards by British employers stagnated during the three months to September and firms expect average wage rises to cool over the coming 12 months, according to a survey that added to signs that Britain’s labour market is softening.

Human resources data company Brightmine reported that the expected median pay award in the year ahead was 3 per cent, down from pay awards of 6 per cent in the same period in 2023, reflecting a sharp drop in inflation.

It said pay rises...