Wage Growth Rise Eases Cost Of Living Squeeze

Official figures show wage increases are accelerating at an even faster pace than prices in the run-up to Christmas.

The Office for National Statistics (ONS) calculated average weekly wage increases, excluding bonuses, at 1.6% in the three months to October compared to the same month last year - a 0.4% improvement on September's figure.

Just 24 hours earlier, the ONS said the core CPI measure of inflation for November stood at 1% - a 12-year low.

The figures, taken together, are the best evidence yet that the squeeze on living standards is easing - helped by plunging world oil costs and a bitter supermarket price war.

The ONS also confirmed that the UK jobless rate remained static at 6% in October as the unemployment total fell at its slowest pace for a year, by 63,000 to 1.95 million.

Employment growth also slowed to reach 30.79 million though it still represented the highest total since records began in 1971 and was 588,000 up on a year ago.

Work and Pensions Secretary Iain Duncan Smith said: "These remarkable figures show that our long-term economic plan to create a better more prosperous future for Britain is working.

"Behind them are countless stories of individual hard work and determination, with more people than ever before feeling financially
secure.

"What we can see at the end of 2014 is that our welfare reforms are ensuring that people have the skills and opportunities to move into work. Whether that's work experience for young people to get their foot on the career ladder, the benefit cap encouraging people to get a job, or the Work Programme which is helping more people than any previous jobs scheme."

GMB union general secretary Paul Kenny said "This is the fifth Christmas with this Government in power and, while the recovery under way is welcome, it should be much further ahead.

"There are too many households this Christmas with jobless workers."

TUC General Secretary Frances O'Grady added: "Today's figures show some long overdue improvements, but at this rate it will take over a decade to recover the real value of people's earnings.

"And there is a very long way to go to deal with the problem of so many jobs being insecure, short hours, or on zero hour contracts."

Anda sedang membaca artikel tentang

Wage Growth Rise Eases Cost Of Living Squeeze

Dengan url

http://temannyakawanya.blogspot.com/2014/12/wage-growth-rise-eases-cost-of-living.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

Wage Growth Rise Eases Cost Of Living Squeeze

namun jangan lupa untuk meletakkan link

Wage Growth Rise Eases Cost Of Living Squeeze

sebagai sumbernya