Unemployment down and (finally) real term wage rises

Wages are now rising faster than inflation for the first time since 2010.

The CPI measure of inflation, which was revealed yesterday, stands at 1.6% in March. Average earnings grew 1.7% on last year in the three months to February.

Unemployment also fell by 77,000 to 2.24 million - 6.9% of the labour force.

Joe Grice, chief economic adviser at the Office for National Statistics, said: “These figures - rising employment and falling unemployment and inactivity - continue the strong trend in the labour market that has been seen in recent months. Self-employment has again been a prominent growth area.”

Chancellor George Osborne viewed the news as evidence his economic plan was succeeding.

 

NOW READ:

Tesco reports 6% profit fall

Social Bookmarks