UK wages are increasing at their joint-fastest rate in a decade, with unemployment remaining low at 4 per cent, says the Office for National Statistics.
And wages have outpaced inflation for the eleventh month in a row.
The new figures confirmed that 2018 was a year of widespread employment opportunity, says the ONS, showing a record high employment rate for people from ethnic minority backgrounds of 66.2%, 145,000 more disabled people in work, an overall increase of 930,000 in the last 5 years, and more women are in the workplace than ever before at 15.31 million. The female employment rate is also a record – 71.4%
Minister of State for Employment Alok Sharma said: “While the global economy is facing many challenges, particularly in sectors like manufacturing, these figures show the underlying resilience of our jobs market – once again delivering record employment levels.
“Pro-business policies mean we have started the new year with a strong labour market, with wages outpacing inflation for the eleventh month in a row, and more people in work than ever before. It’s also excellent news that we see the rate of women in employment at a record high.
“Of course, we need to ensure that we continue to provide one-to-one support for anyone whose jobs may be at risk, or who might be looking to move to a new role.”