Today’s employment figures
I have a post at Left Foot Forward, looking at the monthly labour market statistics, released this morning. By far the most interesting news is in the section on earnings. Today’s figures confirm that last month’s massive increase in finance sector bonuses was a blip – which makes it very likely that it was caused by highly-paid City workers postponing their bonuses till after the top rate of income tax came down to 45p. I also explain why most annual pay settlements in the private sector are higher than the increase in average earnings.