Bloomberg News

U.K. Wage Growth Slowed in September on Services, VocaLink Says

October 05, 2011

Scott Hamilton

Oct. 6 (Bloomberg) -- Take-home pay growth at Britain’s largest publicly traded companies slowed for a third month in September, led by the services industry, VocaLink Ltd. said.

Incomes after tax and other deductions climbed 2.2 percent in the three months through September from a year earlier, the group said in a statement in London today. That compares with 2.7 percent in the quarter through August.

Wage growth at service companies slowed to 2.3 percent from 2.7 percent, while the rate at manufacturers was unchanged and government workers saw a faster pace of increase, VocaLink said.

The company, which processes 90 percent of British salaries paid directly to bank accounts, used salary-payment data from more than 200 members of the FTSE 350 Index and more than 600 government-related organizations for the report.

--Editors: Andrew Atkinson, Fergal O’Brien

To contact the reporter on this story: Scott Hamilton in London at shamilton8@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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