mpc.theyserveforyou.com

mpc: 19 Pay pressures had also remained muted. Annual whole economy earnings growth had been unchanged in the three months to August from the three mo nths to July. But annual private sector regular pay growth had increased slightly to 4.3%, resuming the steady upward drift over the past 18 months following a period of stability. It was surprising that pay pressures had not been stronger. One possible explanation might have been that government reforms to the labour market over the past twenty-five years or, more recently, additional immigration or delayed retirement had altered the relationship between wage growth and unemployment.