UK Public Sector Sees Strong Pay Growth Amid Slowing Wage Growth

A survey by the Chartered Institute of Personnel and Development (CIPD) revealed that strong pay growth in the UK's private sector will be matched in the public sector, with both sectors planning 5% pay rises. This indicates the largest pay rise for public workers since 2012. The survey also showed that 51% of public-sector employers reported hard-to-fill vacancies, compared to 38% in the private sector. Additionally, a quarter of organizations with hard-to-fill vacancies plan to introduce or increase automation. The Bank of England expects wage growth of 4.25% next year, despite falling headline inflation and signs of economic stagnation.