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Wages are growing at their fastest rate in a decade as inflation continues to fall away, new figures on the jobs market reveal today.
Average earnings increased by 3.4 per cent in the year to November, the highest for a decade, outpacing inflation - recorded at 2.1 per cent last week.
ONS - Earnings - Price - Inflation - Cent
The ONS said average weekly earnings, adjusted for price inflation, increased by 1.2 per cent, including bonuses, compared with a year earlier.
Record numbers of people are in work and job vacancies are at their joint highest level since 2001, today's Office for National Statistics revealed.
Employment - Months - November - Records
Employment increased by 141,000 in the three months to November to 32.5 million, the highest since records began in 1971.
Unemployment also increased, up by 8,000 to 1.37 million, although the total is 68,000 lower than a year ago. The UK's jobless rate is now 4 per cent, down by 0.2 per cent on a year ago, and the lowest since 1975.
Increase - Unemployment - Employment - UK - Population
The increase in both unemployment and employment is explained by the UK's rising population, and fewer people classed as economically inactive, which includes those on long-term sick leave, students, and people who have given up looking for a job.
The number of economically inactive people fell by 100,000 in the latest quarter to 8.6 million, a rate of 21...
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