Wages rise faster than inflation
Posted on 13 Jan 2016
Wages rise faster than inflation
Wages rose at an annual rate of 2.9% in the three months to March, according to the ONS, faster than inflation (2.7%) for the first time in more than a year. The ONS said unemployment fell by 46,000 to 1.42m, with the jobless rate falling to 4.2%, the lowest since 1975, while the number of people in work increased by 197,000 in the period to 32.3m. However, separate ONS data noted its initial estimates of productivity had fallen 0.5% in the three months to March, the largest fall since the last three months of 2015.
