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UK employer pay rises hold at 3% but signs of softness grow, Brightmine says - REUTERS
LONDON, May 21 (Reuters) - Pay settlements granted by British employers stayed at 3% in the three months to April but many firms are now offering smaller raises, according to figures from data firm Brightmine that are likely to be welcomed by the Bank of England.
Wednesday's data marked the fifth consecutive rolling quarter of pay awards at 3%, the weakest pace of increase since December 2021.
BoE officials are watching to see how employers react to a hike in their social security contributions - known in Britain as national insurance - and a sharp rise in the national minimum wage. Both took effect in April, a key month for pay deals.
