Great news for UK workers. Wages have grown at a higher rate than expected in the three months to July, continuing to outstrip rising prices.
According to figures from the Office for National Statistics (ONS) wages grew by 2.9%, a figure well above the inflation rate of 2.4%.
Meanwhile, unemployment has continued to fall, dropping to its lowest level in 40 years to 1.36 million.
The number of people in employment has remained steady at 32.4 million.
Rob Shaw, Managing Director at Glu Recruit said: “It’s great to see the labour market in such a robust position with the number of people working at a historically high level, a drop in unemployment and an increase in job vacancies.
“UK workers are in a prime position, and we’re already seeing more enquiries from businesses on a local level.
“With a boost in wages seeing a rise in consumer spending, we could be looking at growth in the UK economy as a whole.”