James Brokenshire has welcomed the positive news that employment has reached the highest level on records with wages rising at their fastest pace in a decade.
Impressively, employment has reached a record high of 32.5 million which is up 328,000 over the last year and up by 3.5 million since 2010. This is coupled with average weekly earnings for employees increasing by 3.4% compared with a year earlier.
In Old Bexley and Sidcup, the number of people who are claiming key out-of-work benefits has fallen by 871 since 2010 – an overall reduction of 66%.
Commenting on the positive news, James said:
“These figures show our balanced approach to the economy is working. This is the biggest rise in wages for a decade and with wages rising faster than prices, hard-working people can keep more of what they earn.
“Our reforms are helping more people into work – and through our modern Industrial Strategy, we are backing businesses to create more, higher-paying jobs across the whole country.”