UK earnings with bonuses rising at fastest rate in 11 years

LONDON – Official figures have painted a mixed picture of the U.K. labour market as the country heads towards its scheduled departure from the European Union.

The Office for National Statistics said Tuesday that the number of people in work increased by 31,000 in the three months to July, down sharply from the 115,000 created in the quarter to June. Overall, the unemployment rate of 3.8% was unchanged on the quarter and remained at its lowest since 1974.

Wages including bonuses rose at their highest level since 2008’s global financial crisis. It said average weekly earnings were up 4% over the year, up from 3.8% in June.

Excluding bonuses, the increase moderated to 3.8% from 3.9%. Still, that’s ahead of the 2.1% rate of consumer price inflation.