Home Business Economy Real wages have grown faster indicate official stats

Real wages have grown faster indicate official stats

51
0
SHARE

wage money poundIn further proof that the jobs market is continuing to grow, there are over 2.4 million more people working in the private sector than in 2010, with annual private sector pay growth now up to 3.3%…reports Asian Lite.

According to official government figures more than 400,000 extra people are in work compared to a year ago, while unemployment has also fallen nearly 350,000 over the same period to its lowest level since August 2008.

The proportion of the workforce claiming benefits because they are unemployed is now at its lowest level since 1975 – down to 2.3%. The number of people claiming the main out-of-work benefits has fallen by more than 1 million since 2010 – the lowest level since 1982, an official press release points out.

Employment Minister Priti Patel said, “Today’s figures confirm that our long-term economic plan is already starting to deliver a better, more prosperous future for the whole of the country, with wages rising, more people finding jobs and more women in work than ever before. We want to go further and create one nation that is based on security and opportunity. We will continue to help businesses create jobs and support those who want to work hard and get on as part of our ambition to achieve full employment.’’

The figures reveal that vast majority of the rise in employment in the last year – 85% – has been in full-time work, and the UK’s employment rate has seen the largest rise of any G7 economy over the last year.

 

 

Long-term unemployment fell to its lowest level in more than 5 years – supported by the Work Programme, which is the biggest single payment by results employment programme Britain has ever seen, says the official press release.