Real Wages Rise, Employment Surges, Unemployment Plummets

New labour market data from the ONS has revealed that in the last quarter of last year, 167,000 more people became employed. 2018 ended with 444,000 more people in work than a year before. The UK’s employment rate now stands at the joint-highest it has ever been since records began in 1971. Meanwhile almost 60,000 fewer people are relying on zero-hours contracts…

The unemployment rate has plummeted too, with as low levels not being since since the end of 1974. Unemployment fell by 100,000 over the course of the year, meaning every day 274 unemployed people found a job. Meanwhile, wages have risen again by 3.4%, and excluding inflation real wages are up by 1.3%. Despite Brexit, Britain’s jobs miracle continues…


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