Pound steady as earnings rise by 1.4% in UK

<p>Sterling is steady versus the dollar following news average earnings are higher than last year.</p>

The pound is steady in forex trading versus the dollar today (November 22nd) following news average earnings in the UK rose by 1.4 per cent in the year to April 2012.

According to fresh figures from the Office for National Statistics (ONS), the average annual salary of a full-time worker is now £26,500.

There was a reduction in the real value of pay, however, as inflation was higher during this same timeframe at 3.5 per cent.

Nevertheless, the pay gap between men and women shrank over the 12-month period from 10.5 per cent of male full-time hourly earnings to 9.6 per cent.

The ONS said this narrowing continued the trend of the past few years.

At 11:55 GMT, the pound was firm versus the dollar to £1 buying $1.595, while it depreciated by 0.3 per cent against the euro to €1.238.

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