Wages excluding bonuses have risen at their fastest pace in nearly 10 years, official figures show.

Pay rose by 3.1% in the three months to August, compared with a year ago, while inflation for the same period was 2.5%.


Last week, Bank of England chief economist Andy Haldane said he saw signs of a "new dawn" for wage growth.


The latest official data also showed unemployment fell by 47,000 to 1.36 million in the three months to August. The jobless rate remained at 4%.


David Freeman, the Office for National Statistic's (ONS) head of labour market, said: "People's regular monthly wage packets grew at their strongest rate in almost a decade, but, allowing for inflation, the growth was much more subdued.
"The number of people in work remained at a near-record high, while the unemployment rate was at its lowest since the mid-1970s."


The ONS figures showed the number of people in work was little changed at 32.39 million, down by just 5,000.




BBC    News.