News That Matters

Wages back above pre-economic crisis levels

Average weekly wages in the UK have returned to pre-economic crisis levels for the first time since March 2008.

Weekly pay reached £511 in the three months to December – the last time they were this high, after adjusting for inflation, was before the downturn.

Excluding bonuses, earnings grew at an annual rate of 3.2% in the three-month period, official figures show.

Employment rose by 336,000 to another record high of 32.93 million, while unemployment stayed at 1.29 million.

The number of women in employment increased again – this time by 150,000 in the three months to December to a record high of 15.61 million.

Myrto Miltiadou, of the ONS, said: “In real terms, regular earnings have finally risen above the level seen in early 2008, but pay including bonuses is still below its pre-downturn peak.

“Employment has continued its upward trend, with the rate nudging up to another record high. In particular, the number of women working full-time grew strongly over the past year.”

Let’s block ads! (Why?)

BBC News – Business

Leave a Reply

Your email address will not be published. Required fields are marked *