
Has Britain’s jobs market bounced back?
The jobs market has turned a corner. Vacancies have fallen again to 934,000, down 49,000 in the last three months of the year, the longest continuous fall on record. Wage growth slowed to 6.5 per cent in cash terms – which will please the Bank of England – but luckily for workers inflation is falling faster, meaning those rises translate into real terms pay bumps (of about 1.3 per cent). Employment climbed slightly while unemployment remained flat. The next inflation figures are out tomorrow but the wage data are a sure sign of the direction of travel. Take out bonuses and average pay rose 6.6 per cent (1.4 in real
