UK labour market shows signs of easing as wage growth slows

According to the Office for National Statistics, growth in regular pay, excluding bonuses, was 6.5% in the three months to January, down from 6.7% the previous month. Including bonuses, annual growth in average total pay was 5.7% during the quarter, down from 6%. Adjusting for inflation, however, growth in real terms of total and regular pay fell in the year from November 2022 to January 2023, by 3.2% for total pay and by 2.4% for regular pay.  A larger fall on the year for real total pay was last seen in February to April 2009, when it fell by 4.5%, but it is still one of the largest...