Wages overtake inflation for 16th month in a row
19 July 2019
New statistics show wages are booming for UK workers, with regular pay rising 1.7% in real terms (above inflation) – meaning people’s earnings are rising at their fastest since October 2015.
As 354,000 more people entered the workforce in the last year, female employment in the UK also continued to increase, remaining at its record high of 72.0%,
New figures also show the level of youth unemployment in the UK has nearly halved since 2010, falling by 47%.
Overall the UK’s unemployment rate remains at its lowest since 1974 at 3.8%, with female unemployment reaching a new record low of 3.6%.
The largest fall in unemployment was also among people unemployed for over a year – showing the success of a reformed welfare system designed to help people overcome their personal barriers to work.