United Kingdom: Wages rise sharply as unemployment falls

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However, while workers around the United Kingdom are enjoying the strongest rise in real terms regular pay for more than decade, the number of those without work is rising.

“At 73.5pc, employment rate at record high”.

When measured against the same period a year ago the total number of people in employment was 413,000 higher.

The pound rose against the euro by one cent following the news and was up 0.7 cents against the dollar.

Pay, excluding bonuses, rose by 2.9pc in the three months to July, up from 2.8pc in the three months to June, representing the strongest increase since the beginning of 2009. However, we still face risks both from the global economy and from those at home, who would undermine our economic security, hike taxes and nationalize industry.

The house price annual inflation was 5.6% in England, 0.3% in Wales, 7.4% in Northern Ireland and -1.3% in Scotland.

There were 31.09 million in work, up 42,000 from the previous quarter. In the South East of England, prices had increase 6.7 percent.

This is an increase of 1.8% on the previous quarter and 4.2% on the same period past year.

UK Office for National Statistics (ONS) reveals house prices in the country jumped 2 percent in July only.

However, this was a drop of 0.6 per cent compared to the three months between May and June in 2014.

There were 1.82 million unemployed people, 10,000 more than from February to April but 198,000 fewer than for a year earlier, the ONS said. The employment rate – or proportion of people aged 16 to 64 in work – was 73.5pc.

Despite the rate of unemployment rising, the number of people receiving employment-related benefits has fallen across the region in the past year.

Michael Martins, analyst at the Institute of Directors, said ‘Today’s figures are further proof that Britain’s businesses continue to power the recovery and are sharing the rewards with their employees.

John Healey, the new shadow-housing minister in Jeremy Corbyn’s cabinet, tweeted on his appointment: “Housing is now a national crisis, so delighted housing now has full status in shadow cabinet and to take on job”.

 

 

Feeling richer Total pay grew at the fastest pace since early 2009

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