UK workers still enjoying Brexit bonanza

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While Australian wages remain stuck in the mud, held down in part by the endless deluge of migrant workers, the lower immigration arising from Brexit continues to be a bonanza for UK workers, who are enjoying both strong wage growth and unemployment at 45-year lows:

Wages have continued to grow at a strong pace and employment remains at record highs, official figures show.

Earnings excluding bonuses grew at an estimated annual pace of 3.8% in the May to July period, down slightly from the previous reading.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.