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Bloomberg
British workers are enjoying a resurgence of bargaining power as labour shortages leave employers struggling to fill jobs. Basic pay rose an annual 3.3% in the first quarter, close to the fastest pace since 2008, Office for National Statistics figures show. Pay including bonuses rose 3.2%.
The increase came as the number of people in work rose by 99,000, taking the jobless rate to a 44-year low of 3.8%. The employment rate stayed at a record high of 76.1%. A buoyant labour market helps to explain the resilience of consumer spending, which along with Brexit stockpiling drove economy last quarter.