UK workers have enjoyed an unbroken period of real-terms wage growth since February 2018, new figures today show – real total pay growing by 1.2% in the last year.
The figures released by the ONS also show private sector employment booming, growing by 287,000 in the last year, as UK businesses continue to invest in new workers.
Jobs requiring more qualifications, particularly in sectors like technology and science, continued to show the biggest increase. Higher skilled roles made up around 75% of the rise in employment since 2010 – employing an extra 2.6million people since 2010.
Overall this month employment levels reached a record high, while the unemployment fell by 112,000 in the last year. At 3.8%, the unemployment rate remains its lowest since the 1970s, with youth unemployment level falling by nearly half since 2010.
Female employment also continued to soar this month reaching another record high, as 195,000 more women entered the workforce in the last year, benefitting from the rise in higher-skilled, higher-paid jobs.
Employment Minister Alok Sharma said:
“Once again we see more people in work than ever before; 3.7 million more since 2010. A testament to the Government’s support for employers and jobseekers on a day where we also mark that 2 million claimants are now being supported through Universal Credit.
“With wage growth increasing pace on last month, outstripping inflation for the 15th month in a row, and record high female employment – the Government’s focus on pro-business policies and balanced economic management is delivering opportunity for all.
“As we celebrate the UK’s powerhouse digital sector in London Tech Week, we also see almost 100,000 more people in digital jobs in the last year alone.”
Today’s statistics come as the Government joins businesses across the capital to mark London Tech Week, an acknowledgment of the booming digital tech sector and its impact on innovation, jobs and the economy throughout the UK.