Fiona
Bruce MP welcomes news that wage growth is at the fastest rate since 2007
The ONS’s
official statistics show that annual
real wage growth is now at 3.2 per cent. In the private sector, pay is up 3.8
per cent.
Fiona Bruce MP said “I
am pleased to note these figures with a further
fall in long-term unemployment, youth
unemployment falling and the female employment rate hitting another record
high. Other figures released today also show that the number of children living in households
claiming out-of-work benefits is at the lowest level since current records
began in 2008. This is good news for our local economy.”
Long-term
unemployment has fallen 184,000 and 92,000 fewer young people are unemployed
than a year ago. At the same time, more women are in the labour market with the
employment rate 3.1 percentage points higher than in 2010, with 159,000 more women
in work than a year ago.
The UK has had the largest rise in the employment rate, and the largest
fall in the unemployment rate, of any G7 economy over the last year.
Fiona continued “There
is more to do, but the best way to help people break free of welfare dependency
is to build a high wage, low tax, low welfare economy which rewards hard work
and creates growth and jobs. 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. “
