UK wages rose in real terms in the three months to March, whilst unemployment fell to 1.42 million.
Figures from the Office for National Statistics showed average weekly earnings increasing for employees over the period. UK wages excluding bonuses rose 2.9 percent in the three months to March, compared to an inflation rate of 2.7 percent for the same period.
Unemployment fell by 46,000 between January and March to 1.42 million, with employment up by 197,000 during the first three months of this year. This was the biggest jump since late 2015 and higher than 130,000 expected by economists.
Senior ONS statistician Matt Hughes says that growth in total pay remains in line with inflation, “meaning real earnings are flat on the year.”
“The growth in employment is still being driven by UK nationals, with a slight drop over the past year in the number of foreign workers.”
