UK companies keep shedding staff as pay growth slows – business live

UK companies continue to lay off staff as wage growth slows down in the country. This trend is concerning for the economy, as it may indicate a decline in business confidence and investment. The slowdown in wage growth also has implications for the state pension, which is set to rise by 3.9% next year under the triple-lock system. This increase would see the full new state pension rise to over £13,000, providing some relief to pensioners but also highlighting the challenges facing the UK economy.

Why it matters

UK companies are shedding staff and pay growth is slowing. This could lead to higher unemployment and reduced consumer spending.

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