Tuesday, December 11, 2018

Employment and Real Wages rising

Office for National Statistics figures released today show that real wages are rising on average and at the best rate for nearly a decade.

Compared with a year earlier, wages excluding bonuses, were up by 3.3% for the three months to October, the biggest rise since November 2008.

Average weekly wages are £495 - the highest since 2011, when adjusted for inflation. The number of people in work rose by 79,000 to 32.48 million, a record high.

That is the highest figure since records began in 1971.

Job vacancies were up by 10,000 on the quarter to a record high of 848,000. More than half, 195,000, of the 329,000 jobs created in the year to October went to people who are no longer economically inactive, who are the main reason for the expansion in the workforce.

Employment Minister Alok Sharma said: "Today's statistics show the enduring strength of our jobs market, with wages outpacing inflation for the ninth month in a row and employment at a record high."

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