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UK Wage Growth Hints to a Global Phenomena

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UK Wage Growth Hints to a Global Phenomena

August 18, 2021

Wages are going up in America, especially for low wage workers. No one knows why exactly. It could be unemployment benefits, inflation, or a higher reservation wage. The same thing is happening in the UK. Wages are up more than 8% compared to last year in the United Kingdom too, and have been rising all spring, even before the economy fully reopened. UK is not offering the same benefits, but it is also experiencing global shortages, mild(er) inflation, and workers who may be reluctant to return to their jobs. It does seem some of the wage increase is a global phenomena. This fall will reveal if it lasts there too. 

Source: UK Office for National Statistics

Allison Schrager is a senior fellow at the Manhattan Institute. Follow her on Twitter here.

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