Wages in the U.K. are growing twice as fast as Europe and the U.S. thanks to one simple policy

London symbols with BIG BEN and red Phone Booths in England, UK. (Credit: extravagantni—Getty Images)

The U.K.’s new Labour government has emerged from its landslide election victory, promising to return the country to its economic heights. The latest evidence of worker pay growth will give them a good platform to deliver on that promise.

Wages rose by 7% in the U.K. in the year to June, according to data from the Indeed Hiring Lab. That’s almost twice the rate of the Eurozone, where wages increased by 3.7%, and more than double growth in the U.S., which rose at 3.1%.