ONS: Wage growth hits 1.6pc
Wage growth is now outstripping inflation, which stood at 1% in November – its lowest level for 12 years.
The unemployment rate has also fallen to a 6-year low of 6.0%, down from 7.4% during the same period last year.
Between August to October 73.0% of 16 to 64 year olds were in employment compared to 71.8% a year earlier, while the numbers claiming Jobseeker’s Allowance fell by 26,900 to 900,100 in November.
Iain Duncan Smith, work and pensions secretary, said: “These remarkable figures show that our long term economic plan to create a better more prosperous future for Britain is working.
“What we can see at the end of 2014, is that our welfare reforms are ensuring that people have the skills and opportunities to move into work.
“Whether that’s work experience for young people to get their foot on the career ladder, the benefit cap encouraging people to get a job, or the Work Programme which is helping more people than any previous jobs scheme.”