Real wages are up for the seventh month in a row, rising by 0.7 per cent above inflation, and employment remained high at 75.5 per cent, up 0.4 per cent points on the year, according to the latest figures from the Office for National Statistics (ONS).
The findings revealed that regular wages rose by 3.1 per cent in August, or 0.7 per cent against inflation, while over 3.3 million more people are in work since 2010. In particular, the proportion of young people who are unemployed is at a record low and the number of children growing up in a home without any adults working is also lower than ever before.
“I am particularly encouraged that wages continue to be on the up, outpacing inflation for the seventh month in a row with regular pay up 3.1 per cent on the year – the fastest growth in almost a decade,” said Minister of State for Employment Alok Sharma.
“And with unemployment at its lowest since the 1970s, since 2010 there are more people with the security of a job, more people with a regular salary, and more people able to support their families - and that is thanks to action this government has taken to build an economy that works for everyone.”
The government hopes to give even more people access to work through its Industrial Strategy, which aims to ensure businesses play by the rules by closing tax loopholes, strengthening workers’ rights and tightening business rules.
The government also aims to help people stay in work for longer by implementing its Fuller Working Lives Strategy, which supports employers to recruit, re-train and retain older workers.
