UK salaries rise near record pace on inflation fears

Demand for workers continued to climb as pandemic restrictions eased, though the growth of vacancies cooled to the slowest pace in nine months, the Recruitment and Employment Confederation (REC) and KPMG said yesterday.

LONDON: Worries about inflation and a shortage of workers pushed Britain’s starting salaries up by their third-fastest pace on record in January, according to a survey that may add to Bank of England (BoE) concerns over rampant wage gains.

Demand for workers continued to climb as pandemic restrictions eased, though the growth of vacancies cooled to the slowest pace in nine months, the Recruitment and Employment Confederation (REC) and KPMG said yesterday.