Employment hits record high and wage growth outpaces inflation – The Times

The number of people in work has reached another high and wages are growing at their fastest pace since the Brexit referendum despite a slowdown in the economy. The Office for National Statistics said 32.71 million were now in employment, after a rise of 179,000 people in the three months to the end of February, the highest since 1971. Unemployment fell by 27,000 to 1.34 million, putting the rate at 3.9 per cent, the lowest level since 1975. In explaining the robust performance of the labour market, economists pointed to the flexibility of the British labour market. It is easier and cheaper to recruit workers to meet demand than to commit to extra business investment, which has been falling. According to the latest figures, the…
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