Thursday, October 19, 2017

Unemployment Drops - Wages Fall

UK unemployment fell by 52,000 in the three months to August to 1.4 million, leaving the jobless rate unchanged at 4.3% from the previous quarter. However, pay still failed to keep pace with inflation, with the real value of earnings down 0.3% over the past year.
Bank of England, Dave Ramsden, said there's little sign of wages picking up in response to higher inflation.
TUC general secretary Frances O'Grady commented: "Britain desperately needs a pay rise. Working people are earning less today (in real terms) than a decade ago.

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