Want to create an interactive transcript for this episode?
Podcast: Beyond Currency
Episode: 15 February 2023 - Private sector pay an issue
Description: While the wave of industrial action that is blighting the outlook for the public sector shows little sign of abating, the Bank of England is likely to be concerned by the inflationary nature of pay deals in the private sector.
The January employment report was published yesterday and while the jobless rate remains close to a historic low at 3.9%, it is the average earnings figure that will contribute to another hike at the next rate setting meeting.
Average earnings not including bonuses rose by 6.7% in the three months to December, and another 12.9k workers left the claimant count. The previously...