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...