Regular earnings rose by a near record 7.8 in the three months to August and were 0.7 higher with inflation taken into account.
UK wages are outstripping inflation for the first time in nearly two years, according to official figures.
Wages are now surging by record levels seen outside of the pandemic-skewed era, with regular pay jumping by an upwardly revised high of 7.9% in the three months to July, according to the ONS. This is similar to recent periods and is one of the highest regular annual growth rates since comparable records began in 2001.The ONS added that public sector pay leaped 6.8% higher in the three months to August – one of the highest growth rates since records began in 2001 – although it continued to lag behind the private sector at 8%.
Vacancies also dropped to 988,000 in the three months to September, down by 43,000 on the previous quarter and marking the 15th drop in a row.The real value of wages has been eroded over more than a decade. Data suggesting pay rises have finally caught up withwill give hard-working families some respite from the damage that has been wrought on incomes by years of economic incompetence and mismanagement.
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