Wage Increases Due To Brexit

West Midlands MEP Bill Etheridge said the accelerating rate of wage increases was not “despite Brexit” but “due to Brexit”.

Office of National Statistics (ONS) figures show pay rates rose by 3.1% in the three months to August, compared to 2017, with inflation at 2.5%.

The Bank of England’s chief economist, Andy Haldane, forecasted a “new dawn” for wage increases.

Data showed unemployment fell by 47,000 to 1.36 million in the three months to August. The jobless rate remained at 4%.

The Libertarian Party UK Deputy Chairman said “Should I be surprised at the dearth of statements declaring that the increases are due to Brexit?

“Schoolboy economics taught be the laws of supply and demand. As the rate of immigration slows, albeit slowly, the demand for workers increases.

“This in turn powers wage rises. So, will we see the headline that “Brexit causes pay increases”?

“Somehow, I don’t think I’ll hold my breath….”

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