One of the leading members of the Bank of England's influential Monetary Policy Committee has suggested that the recent fall-back in the growth of earnings might be a good reason to delay any interest rate rise.
Martin Weale, who is also a director of the National Institute of Economic and Social Research, says he is surprised at the "pause" in wage growth over the past six months or so.
Weale is widely considered to be aggressive on interest rates, having previously appeared more likely than many other MPC members to increase them. Therefore his remarks, made in an interview in The Daily Telegraph, are being taken as an indicator that any increase may be edging further into 2016.
"Weale's comments are particularly noteworthy as his voting record on the MPC has been at the hawkish end" says Howard Archer, chief European and UK economist at financial consultancy IHS.
Three other MPC members have in recent weeks suggested that wage growth has become too low to commend an imminent increase in the current 0.5 per cent base rate.