Due to the government’s long-term economic plan, real wages are currently growing at the fastest rate since 2007. This means that hardworking people are feeling the benefit of the economic recovery – with more money in their pockets.
The strength of the UK labour market continues – with employment rates now well above pre-recession levels, and the female employment rate hitting another record high. Over the past year, the rise in employment has come entirely from full-time work, as the economy continues to grow.
Added to this, the fall in long-term unemployment shows the economic recovery is felt by all sections of society.
This news comes as separate figures out today show the number of children living in a household claiming out-of-work benefits is at the lowest level since current records began in 2008 – falling by around 450,000 since 2010.
Local Essex MP and Employment Minister Priti Patel said:
“The strength of the UK labour market is something we should take great pride in. Today’s figures show real wages growing at the fastest rate since 2007, and near record numbers of women in work.
“As part of our one nation government, we want everyone to succeed and achieve their full potential.
With the government’s new productivity plan, and introduction of the new living wage, we are ensuring everyone benefits from the economic recovery.”