British pay growth is showing a decline for the first time since 2014, despite the fact that unemployment fell to its lowest level in the last 42 years.
Thus, the annual wage growth, excluding bonuses, in the first quarter of this year made up 2.1%.
Real earnings are below their levels of 10 years ago and inflation looks set to hit 3 percent this year, pushed up by the pound's fall since the Brexit vote and the oil price rebound.
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