UK wages rising at decade high while employment hits record

FeaturesAssociated Press

Official figures show that wages in Britain are rising at their fastest rate in a decade while employment has hit a record high.

The Office for National Statistics said Tuesday that average earnings were up 3.3 percent in the three months to October from the year before. That's the highest rate since the summer of 2008, just before the most acute phase of the global financial crisis. Meanwhile, employment rose by 79,000 to 32.48 million.

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The figures provide further evidence that the labor market remains robust despite the uncertainty surrounding Brexit.

However, with concerns rising that Britain may crash out of the European Union in March with no deal, there are worries that firms may start laying off staff as they put in place contingency measures.