Real wages rise for fifth consecutive month

Employment statistics released this week show that the number of people in work in Britain remains at record levels and the unemployment rate at its lowest for forty-three years.

They also show that real wages have risen for five consecutive month as average pay (excluding bonuses) has risen faster than inflation.

Conservatives want to help people into work by reforming welfare and delivering our modern Industrial Strategy to help create more, better paying jobs across the whole country.

Since 2010 the number of people in work has risen by over 3.3 million and the unemployment rate is at a 43-year low – meaning more people have the security of a job and are able to provide for their families.

The Conservatives will continue to take the balanced approach our economy needs, creating jobs and opportunities to help people get on in life and build a better future for themselves and their families.

Key statistics 
  • Employment: 32.40 million (up 261,000 over the last year and up by 3.35 million since 2010). 
  • Employment rate: 75.5 per cent (up 0.2 points over the past year and up 5.3 points since 2010). 
  • Unemployment: 1.36 million (down 95,000 over the past year and down by 1.14 million since 2010). 
  • Unemployment rate: 4.0 per cent (down 0.3 points over the past year and down 3.9 points since 2010) – the lowest since 1975. 
  • Wages: Average weekly earnings for employees have increased by 0.4 per cent in real terms excluding bonuses, compared with a year earlier. With wages rising faster than prices, this means more people have more money in their pockets. 
  • Youth unemployment: There are over 451,000 fewer young people out of work since 2010 and the proportion of young people who are unemployed and not in full time education is at a record low of 4.6 per cent.  

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