Wage growth dips to record low

Suzie Neuwirth

THE AVERAGE earnings growth rate for the first quarter of 2013 was the lowest on record, according to data from the Office for National Statistics today.

Average weekly earnings excluding bonuses rose by 0.8 per cent compared to the first quarter of 2012, the smallest growth reported since records began in 2001.

Analysts have suggested the slowdown in wage growth is a result of increased employment in the UK labour market.