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Wages Up, Markets Down

The fact that wages are growing at the highest rate since comparable records began in 2001 should not come as much of a surprise. After all, the pay/inflation dilemma has been at the forefront of the news in recent times. And, as the ONS points out, the annual growth of 8.2% seen in total pay including bonuses for the April to June period does include the NHS one-off bonus payments made in June 2023.

Nevertheless, the pay growth figures from the ONS, coupled with a slight rise in unemployment has caused the Stockmarket to slip a little as it opened on 15 August. The next indicator the markets are looking for is the CPI (inflation) data, which is due for release on 16 August, as this may give a clue as to whether interest rates might have to rise again or can be held at their present level. None of these figures are particularly concerning but they do illustrate how market valuations can fluctuate in line with many different factors. That is one reason why investments should be viewed over the long term as this smooths out individual market movements.

 If you are looking for advice on investments, or if your situation has changed and you may therefore need to review your existing pensions or investments, contact Beckworth by using one of the links on our website.