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The Guardian - UK
The Guardian - UK
Business
Larry Elliott Economics editor

Tories consider saving £1bn with lower state pension rise as pay growth cools

A man removing a bank card from a wallet
Successive interest rate rises are having a cooling effect on the labour market. Photograph: Realimage/Alamy

Earnings growth has peaked. Living standards are rising even though demand for workers is cooling. Ministers have a big decision to make on next year’s state pension uprating.

Those were the three main conclusions to be drawn from a more limited report than usual on the state of the UK jobs market provided by the Office for National Statistics.

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