Wages higher than inflation for the first time in four years
Wages are rising ahead of inflation for the first time since the Coalition government took office, official figures showed this morning.
Average pay, including bonuses, increased by 1.7 per cent in the year to February, while the Consumer Price Index measurement of inflation stands at 1.6 per cent.
It was the first time for four years that salaries increases have exceeded price rises.
Labour has campaigned heavily on falling standards of living since 2010, arguing that the average working age person has become more than £1,600 worse off over the period.
Separate figures showed that unemployment dropped to 2.24m in February, a jobless rate of 6.9 per cent, which is the lowest for five years.
Esther McVey, the employment minister, said: “More young people are in work, more women are in work, wages are going up, and more and more businesses are hiring - and it’s a credit to them that Britain is working again.”
The Office for National Statistics reported that pay rose by an average of 2 per cent in private firms and by 0.9 per cent in the public sector.
Average total pay is £479 a week, or £449 excluding bonuses.
Rachel Reeves, the shadow Work and Pensions Secretary, said: “ Most people are not feeling any recovery and the link between the wealth of the nation and family finances remains broken.
“It’s deeply complacent and out-of-touch for the Tories to try and claim this deep-seated cost-of-living crisis has suddenly been solved.”
- 2 The man who filmed the Freddie Gray video has been arrested at gunpoint
- 3 How the language you speak changes your view of the world
- 4 Tory activist asked to step down after Labour candidate Rupa Huq is 'manhandled' while questioning Boris Johnson on the campaign trail
Oxygen-starved 'dead zones' with no marine life up to 100-miles long discovered in the Atlantic Ocean
The man who filmed the Freddie Gray video has been arrested at gunpoint
Indonesia executions: Death row British grandmother Lindsay Sandiford will refuse to wear a blindfold when she faces firing squad
Russian warships accused of 'chasing away' Swedish vessel to prevent Baltic States from achieving energy independence
How the language you speak changes your view of the world
Over 50,000 families shipped out of London boroughs in the past three years due to welfare cuts and soaring rents
EU asylum policy is 'a direct threat to our civilisation', says Nigel Farage
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: SNP and its activists 'openly racist' towards the English, Farage says
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
£28000 - £45000 per annum: Recruitment Genius: A Senior Digital Marketing Cons...
£16640 - £18500 per annum: Recruitment Genius: An Assistant Stores Keeper is r...
£16000 - £18500 per annum: Recruitment Genius: This is an excellent opportunit...
£17000 - £30000 per annum: Recruitment Genius: Developer required to join a bu...